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Affordable Housing and Fair Mortgage Bill 2018: First Stage (10 Jul 2018)

John McGuinness: Those with family farms are next.

Affordable Housing and Fair Mortgage Bill 2018: First Stage (10 Jul 2018)

John McGuinness: The banks are queuing up to bring people to court. My answer to all of that is to call on this House to say "No" to vulture funds and to say "Yes" to families and to keeping them in their homes. I ask Members to support this Bill. Debate the Bill, amend it and add to it. I invite Members to do what they like to improve it, but please bring it to the House for a full debate. I am...

Affordable Housing and Fair Mortgage Bill 2018: First Stage (10 Jul 2018)

John McGuinness: I move: "That the Bill be taken in Private Members' time." If it is possible to debate the Bill in Government time, I would like that to be considered as well.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: I am sorry for going back as far as Irish Intercontinental Bank, IIB, but I would like to get this clear in my head. How many companies operate within KBC? Is it only KBC Bank, with KBC having taken over other entities associated with IIB such as IIB Homeloans and IIB Finance? Where does the legal documentation stand in relation to IIB?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Are any of IIB's entities still operated by KBC?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: What are they?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Is it IIB Finance?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Please do so. Are these entities licensed by the Central Bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: How would the others be described if they do not have a licence?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Are they unregulated?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: I understand that, but they are active.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: In that case, what are they?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: In that case, are they not commercial?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: That is the point I was trying to make.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Are those entities used by KBC for any reason in the context of its accounting or reporting?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: For customers of IIB and those entities that were legacy-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Their loans, their titles of property and so on have been transferred to KBC.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Did customers have any issues with any of those entities or KBC around overcharging of interest rates or that kind of issue?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: I am not referring only to the tracker mortgage issue. In the case of a commercial loan where there was an issue between the customer and IIB, did the issue affecting the customer move from IIB to KBC when the legal documents and loan transferred? In other words, is KBC addressing legacy issues with individual customers from the time of IIB? Is that how it works?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Are there any commercial loans with that type of legacy issue attached to them? For example, are there cases involving customers alleging they were overcharged interest by IIB and the amount involved has built up over the years? Are there any legacy cases involving such customers trying to deal with KBC?

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