Results 13,441-13,460 of 26,043 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: Is that formal or informal?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: In the current market, mortgage rates in Ireland are consistently double the EU rates. If we look at the rates being charged by all the main banks, would Ms Goggin agree they are highly consistent?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: Why are the banks in Ireland charging mortgage rates that are double the EU rate and why is this pretty consistent across all the main institutions?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: German banks have come before this committee and said they will charge ten-year fixed rates at just over 1%. If they are willing to come into the Irish market and price at that level, which is well below the EU average, how can Ms Goggin state the banks are entitled to charge such a high mortgage rate to young couples or single people looking to buy their first home?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: Does Ms Goggin accept the mortgage rate in Ireland is high?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: The mortgage rate is high and is well above the EU average, and I have looked at the rates and know they are relatively consistent across the board. The first role of the Competition and Consumer Protection Commission is there in the title - it concerns competition. Surely it has a role in terms of going in and providing assurance to the consumer that there is not a cartel in operation....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: Therefore, Ms Goggin is categorical there is not a cartel in operation in the Irish mortgage market.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: The commission's role is on competition. Ms Goggin cannot have it both ways. She either believes there is a cartel in operation or she believes there is not a cartel in operation. Which one is it?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: With all due respect, Ms Goggin has a remit of consumer protection and competition. She cannot sit on the fence on this one. There are consumers out there at the moment who are coming to us and we can see the mortgage rates. What was done with the trackers was disgraceful and that is being looked at by the Central Bank as we speak. However, we have a current, real-time rip-off of Irish...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: What would the commission need in terms of prima facieevidence in order to take a criminal investigation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: Has no one come forward in that regard?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: What does an immunity programme mean to the ordinary person? If someone comes forward, such as a bank official, what immunity is provided to them? Will Ms Goggin explain that in layman's terms?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: In recent times?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: Will Ms Goggin outline the current position?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: Have we ever had such a case in Ireland?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: Was that within the commission?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: Okay. It has happened. There is precedent.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: I have two final questions. Has anyone working in the financial services industry come forward to Mr. Deering stating that a cartel is in operation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: Mr. Deering said that his office has no civil powers. In terms of the Central Bank, why is that the case? If such powers were made available, what difference would it make to his office when examining potential cartels and how financial institutions operate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion (7 Dec 2017)
Kieran O'Donnell: In not having civil fines in place, are we lagging behind our counterparts in Europe?