Results 7,001-7,020 of 26,465 for speaker:John McGuinness

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: I have seen SBCI applications being refused by a bank. The customer goes to the CRO, which finds in his or her favour but the bank still says "hump off, you are not getting a loan". We are talking here about community banking and the model already exists in the form of the credit union movement. Mr. Casey is the person in charge of credit unions, is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: Why not sensibly expand that network and the ability to lend money through certain credit unions that have the management systems and knowledge in place? The network is there. Why not allow the credit unions to apply-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: Is Mr. Casey confirming today that there is no regulation in place that would prevent them from lending the difference between their €90 million and their €900 million?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: What of mortgages?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: In terms of Mr. Casey's engagement with credit unions, do the credit unions seek direction or information on regulation from him? Does the registrar's office have conversations with credit unions that include suggesting methods of developing their businesses? Are the conversations open, with the aim of improving the credit union system?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: What is the Central Bank's view of the credit bureau? If a person's name is on the credit bureau list, lenders will not extend credit to him or her. How long does that last? Is there a way of dismantling some of that to allow for loans to be extended? Are the banks and credit unions sticking rigidly to it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: Is the bank happy that a lender can make a decision, regardless of the background?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: They are worth it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: Deputy Doherty has one short question before we conclude.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: In that Dáil debate there was a reference to an October deadline. Is Mr. Sibley aware of that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: That brings us to the end of this session. I thank the witnesses for their attendance. We will suspend for a few minutes and go into private session.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: I welcome the representatives from the Credit Union Managers Association, CUMA; the Credit Union Development Association, CUDA; the Irish League of Credit Unions; Irish Rural Link; the Public Banking Forum of Ireland; and the Money Advice and Budgeting Service, MABS. By virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect of their...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: I thank Mr. Farrell. I now invite Mr. Boland to make his opening statement.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: I thank Mr. Boland and invite Mr. Maye to make his opening statement.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: I thank Mr. Maye. I invite Ms Annmarie O'Connor of the Money Advice and Budgeting Service, MABS, to address the joint committee.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: I thank Ms O’Connor. Before we start, at the end of the previous session we asked the representatives of the Central Bank about the obstacles in the way of the credit unions almost fulfilling the role of a community bank. They said that they had loaned €90 million and they could loan €900 million with business mortgages and so on. What is the obstacle? If the Central...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: On the last question and the response received, the Central Bank essentially said that the credit unions can continue to lend money and they have many ways of doing it. It also said that out of all of the financial sectors, it devotes the most time to the credit union sector in terms of giving the credit union supports. At some stage after the meeting, will Mr. Farrell provide the committee...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: Did Mr. Maye want to come in?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: May I interrupt Mr. Maye for one moment?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

John McGuinness: Senator Reilly has to leave to vote, but he is anxious to put a question before he leaves. If Mr. Maye holds fire, I will allow the Senator to put his question.