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Credit Union Sector Report: Motion (8 Mar 2018)

John McGuinness: The Minister of State's Department and the Government did nothing to rectify the situation in regard to those tracker mortgages.

Credit Union Sector Report: Motion (8 Mar 2018)

John McGuinness: If it was not for the four brave people who came forward and highlighted the issue through the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach, nothing would have happened.

Credit Union Sector Report: Motion (8 Mar 2018)

John McGuinness: In the future, as Deputies McGrath and Murphy have said, the committee will have to take on the Department and the Central Bank by bringing them in so that they can account for their actions and explain their inaction in public. The Government must be forced to explain the lack of public policy, and implementation thereof, in support of the credit union movement. That is what is going to happen.

Credit Union Sector Report: Motion (8 Mar 2018)

John McGuinness: I urge the Minister of State to avoid all that, to take the committee's report on board and to implement the recommendations the committee made to him in good faith.

Credit Union Sector Report: Motion (8 Mar 2018)

John McGuinness: By the way, the Minister of State should have some manners and listen to the debate.

Credit Union Sector Report: Motion (8 Mar 2018)

John McGuinness: I thank the Ceann Comhairle for the opportunity to debate this. I encourage the Minister of State to put his money where his mouth is and to support the credit union movement with appropriate implementation of the recommendations made by a cross-party committee of these Houses.

Credit Union Sector Report: Motion (8 Mar 2018)

John McGuinness: In my opening remarks I was fair and balanced to reflect what is in the committee's report. As was said by previous speakers, the report is an all-party report provided by the members of all of the parties in the House, including that of the Minister of State, and it reflects what is needed for the credit union movement now and for the future. I have to say I am deeply disappointed by the...

Credit Union Sector Report: Motion (8 Mar 2018)

John McGuinness: Yes. He spoke about the €1 billion and about the other issues in the credit union. He spoke about having to streamline them and amalgamate some of them, but they were willing to do that anyway. It was not as if they were being forced into doing it. There is not an institution or individual in the State that has not been affected by the financial crash, but one that has been least...

Credit Union Sector Report: Motion (8 Mar 2018)

John McGuinness: I move:That Dáil Éireann shall consider the Report of the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach entitled Report on the Review of the Credit Union Sector with specific reference to the Credit Union Advisory Committee Review of Implementation of the Recommendations in the Commission on Credit Unions Report (June 2016), copies of which were laid...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee (8 Mar 2018)

John McGuinness: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Mr. Padraic Kissane (8 Mar 2018)

John McGuinness: I welcome Mr. Padraic Kissane. By virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect of their evidence to the joint committee. However, if they are directed by it to cease giving evidence on a particular matter and continue to so do, they are entitled thereafter only to qualified privilege in respect of their evidence. They are...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Mr. Padraic Kissane (8 Mar 2018)

John McGuinness: I thank Mr. Kissane and call Deputy Pearse Doherty.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Mr. Padraic Kissane (8 Mar 2018)

John McGuinness: Is that agreed? Agreed.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Mr. Padraic Kissane (8 Mar 2018)

John McGuinness: I presume Pepper Group is the regulated agent.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Mr. Padraic Kissane (8 Mar 2018)

John McGuinness: Are you suggesting that we write to both, Senator?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Mr. Padraic Kissane (8 Mar 2018)

John McGuinness: I think, rather than get into that, we will agree to invite EBS and First Active to attend and we will add Pepper and Danske Bank and see what the response will be. Then we can take it from there.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Mr. Padraic Kissane (8 Mar 2018)

John McGuinness: To clarify a matter Senator O'Donnell raised about Danske Bank, we got a reply from Danske Bank on 12 January and I will ask the clerk to circulate it to members again. The bank's reply to the questions we asked states the total number of accounts and customers identified by the bank as impacted at the end of the fourth quarter of 2017 was 79 accounts and 78 customers. It also states the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Survey of Ireland 2018: OECD (8 Mar 2018)

John McGuinness: I welcome the witnesses to the meeting. I know they have had a busy day of engagements and I hope it all went well and was productive. There is a vote in the Seanad and some of our colleagues are detained at other meetings but may join us later.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Survey of Ireland 2018: OECD (8 Mar 2018)

John McGuinness: Somebody is doing the job of briefing you.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Survey of Ireland 2018: OECD (8 Mar 2018)

John McGuinness: I thank Mr. Gurría for his opening statement. I understand he has to leave at 4.15 p.m. and so we will try to keep the exchange as tight as possible.

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