Results 881-900 of 34,585 for speaker:Seán Fleming
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: I am saying that some do and some do not.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: Many of them do not.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: Many do not apply such charges.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: That is correct. This is a job for the Government and for everybody. I would love a lower interest rate. I do not know anybody who would not love a lower interest rate.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: I do not think there is a citizen in Ireland who would not prefer to have a lower interest rate than what they are being charged at the moment. I accept-----
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: Most people would-----
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: I am certainly not going to follow what the organisation representing these lenders has said but it has made a point that we have to take into consideration. I will not be guided by that body and I do not agree with a lot of what it says but its key point is that it is important to keep this industry and these lenders in the market. Achieving that is a question of balance. It is not a...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: I move amendment No. 6: In page 14, to delete lines 37 to 43.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Credit (Amendment) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: I thank the Vice Chairman and members for participating in this afternoon's debate.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance (Miscellaneous Provisions) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: This is an important new section in the legislation regarding deducting the value of State supports. That issue became apparent as the Covid-19 situation emerged. There is a general misunderstanding among the public because many of the insurance companies had said they would not deduct any payments the State had made from any payments they would be making under business interruption...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance (Miscellaneous Provisions) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: We do not have the information yet.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance (Miscellaneous Provisions) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: My view and the Government's view on this is that we should gather the information and see what the facts are. When we see the facts, we will be able to make a decision. I have no idea what the facts will be until we gather them. The purpose of this is to start gathering the information and the facts. There is a precedent in social protection legislation which, in my view, is probably the...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance (Miscellaneous Provisions) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: However, we do not have information to draft legislation accurately at this stage.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance (Miscellaneous Provisions) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: I thank the Deputy for her constructive comments. I acknowledge the role of her party colleague, Deputy Doherty, in dealing with this topic over a period of time. We had complicated issues with price walking and dual pricing, and they were connected issues but subtly different in their own way. What is happening here is that we are dealing with this issue as part of the programme for...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance (Miscellaneous Provisions) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: We do not have the information yet. Until now, it has been quite legal for them to do it and there is no provision against this abuse of customers’ loyalty. It is shocking that the insurance companies were doing that for years. That is why this is now coming to a head. The Central Bank has the regulatory powers to deal with the issue. In regard to the companies, the Central Bank...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance (Miscellaneous Provisions) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: This relates to the same issue. It is about the report on the issues we have just discussed.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance (Miscellaneous Provisions) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: I want to make the committee aware that, only in respect of this area, we are considering a technical drafting amendment to section 16A, which is being inserted by section 8 of this Bill. We will revert on this if we have an amendment on Report Stage. I am signalling now that we may have an amendment but no details have been finalised so I cannot get into any specifics. We will be upfront...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance (Miscellaneous Provisions) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: For the benefit of people who are listening, some of these amendments are amendments to the Consumer Insurance Contracts Act 2019, in which Deputy Doherty was involved a number of years ago. That has been in operation for a couple of years and these are technical amendments just to tidy up and improve some of the wording. I want to acknowledge it is the Consumer Insurance Contracts Act 2019...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance (Miscellaneous Provisions) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: I will put a note on the record. In order to protect consumers’ interests, section 11 amends the European Union (Insurance and Reinsurance) Regulations 2015. These amendments will provide for technical changes in order to address two issues identified by the Central Bank of Ireland and relating to the scope of an insurance temporary run-off regime for UK- and Gibraltar-authorised...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance (Miscellaneous Provisions) Bill 2022: Committee Stage (11 May 2022)
Seán Fleming: I have nothing to add, other than to thank the members of the committee.