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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: Has the problem been resolved?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: I was asking about the number of complaints that the consumer protection section of the Central Bank has received about companies or individual lenders.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: How many complaints has the Central Bank received about companies? I am not talking about individuals.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: To be clear, for the public, Ms McEvoy oversees consumer protection but the Central Bank does not deal with complaints? Instead, it deals with the companies at a macro level.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: The general public need not bother ringing-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: The point I am making is that the general public's perception is that the Central Bank has a role in consumer protection.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: I understand the role of the bank and just wanted to clear up that point with our guests. Has the Central Bank had any complaints about individual companies?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: Has the Central Bank had any complaints about moneylending companies - the business itself? Has the Central Bank ever had a complaint about a company that has engaged in moneylending?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: How many of those complaints have been received by the Central Bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: How many complaints have been referred to An Garda Síochána?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: How many? Twenty?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: Have ten or 20 cases been referred? How many cases have been referred?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: That is in terms of illegal moneylending.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: The Central Bank has received ten or possibly 20 complaints and has referred them all to An Garda Síochána. Has the Central Bank received any complaints from the public or any other source regarding the companies it regulates?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: But are there any complaints?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: The Central Bank has had ad hoccommunications about the companies it regulates but it does not know how many of these ad hoccommunications it has received.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: In essence, the Central Bank's consumer protection role engages it at a macro level.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: It does not get its hands dirty with the general consumer.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: The consumer protection title is actually misleading.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland (12 May 2021)

John McGuinness: Would Deputy Doherty like to conclude the meeting?

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