Results 13,921-13,940 of 26,042 for speaker:Kieran O'Donnell

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Kieran O'Donnell: The Senator was a bit slow on the draw there.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Kieran O'Donnell: I welcome the amendment. This issue of the six-year rule has come up repeatedly over a long number of years. Paragraph (b) of the amendment, which deals with the matter of life assurance, provides clarity in respect of any ambiguity surrounding the issues. I note the Government Bill is due to come forth as well and that identical amendments were tabled. This is all about what is best for...

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Kieran O'Donnell: We hear about the Financial Services Ombudsman, FSO, quite regularly. I feel that much of the information that goes to the ombudsman is incomplete. Putting a more formal structure in place regarding mediation would be helpful. It would put the onus back onto the provider of the financial product to engage in a meaningful manner. Some cases cannot be resolved by mediation, but it may give...

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Kieran O'Donnell: Sinn Féin will make its own decisions, but is there merit in withdrawing the amendment pending the discussions taking place with the Minister on the amendment on Report Stage?

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Kieran O'Donnell: Is some of this work not already done? Has it not already been looked at by the Financial Services Ombudsman's council?

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Kieran O'Donnell: I understand the import of Senator Horkan's argument. The purpose of the mechanism provided for dispute resolution by the Financial Services Ombudsman is to offer a low-cost service to ordinary consumers who wish to have a matter resolved as quickly as possible. Oral hearings invariably take a long time and can be costly. In routine cases, the ombudsman has the skill sets to examine the...

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Kieran O'Donnell: In terms of legal fair play, I suppose the issue is that if the complainant can seek an oral hearing, I suspect the Financial Services Ombudsman can do likewise. When an oral hearing is requested, I am not certain of the legal obligation on the Financial Services Ombudsman to give a reason as to why such a request is not acceded to. Perhaps that is something that could be examined in the...

Seanad: Order of Business (4 Jul 2017)

Kieran O'Donnell: I thought Senator Coghlan was Killarney's answer to Bord Fáilte. I extend my congratulations to our Leader, Senator Buttimer, on his engagement and wish him well. The big day is not too far ahead. It will be some time in December. As a good politician he has timed it to make certain it does not happen when there could be an election.

Seanad: Order of Business (4 Jul 2017)

Kieran O'Donnell: Are we getting a preview?

Seanad: Order of Business (4 Jul 2017)

Kieran O'Donnell: On Sunday, a new service was launched from Shannon Airport with Norwegian Airlines flying weekly to Providence, just outside Boston, and to Stewart, just outside New York. It is a great news story for Shannon, for Limerick and the region. A review of the runway capacity at all State airports is under way, commissioned by the Minister for Transport, Tourism and Sport, Deputy Ross. The...

Seanad: National Housing Co-operative Bill 2017: Second Stage (28 Jun 2017)

Kieran O'Donnell: I welcome the Minister of State, Deputy Michael D'Arcy. I may not agree with everything in the Bill but I agree with Senator Norris's sentiment and applaud his intent. This Bill was before the Oireachtas Joint Committee Finance, Public Expenditure and Reform, and Taoiseach a short time ago and I see the committee Chairman, Deputy John McGuinness, in the Gallery. I have had time to reflect...

Seanad: National Housing Co-operative Bill 2017: Second Stage (28 Jun 2017)

Kieran O'Donnell: I am posing the question.

Seanad: National Housing Co-operative Bill 2017: Second Stage (28 Jun 2017)

Kieran O'Donnell: Does the Bill do anything to increase the supply? The most significant issue in the housing market at present is the level of supply. The Bill does nothing to address the issue of supply, but basically deals with a group who have distressed loans with the banks. The other issue the Bill does not address, is the issue of sustainable mortgages. The problem is that people bought three...

Seanad: National Housing Co-operative Bill 2017: Second Stage (28 Jun 2017)

Kieran O'Donnell: It is something we must address and the banks must deal with it. If they have written down loans to €5 billion, they have been written down by approximately 80%. My maths should be better.

Seanad: National Housing Co-operative Bill 2017: Second Stage (28 Jun 2017)

Kieran O'Donnell: Why should vulture funds or even the national housing co-operative, even with its merits, be able to pick that up at a reduced rate? Why does the home owner not get it when the write-off is already there?

Seanad: National Housing Co-operative Bill 2017: Second Stage (28 Jun 2017)

Kieran O'Donnell: That is my proposal.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Second Stage (21 Jun 2017)

Kieran O'Donnell: I welcome my colleague, Deputy D'Arcy, to the House and commend him on his appointment as Minister of State with responsibility for financial services and insurance. Yesterday was a proud day for him and his family and I wish him well. We will not be too hard on him today.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Second Stage (21 Jun 2017)

Kieran O'Donnell: The spirit of bipartisanship.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Second Stage (21 Jun 2017)

Kieran O'Donnell: I acknowledge the presence of Deputy Pearse Doherty, who introduced this Bill. The Financial Services and Pensions Ombudsman Bill 2017 is complementary. From reading the legislation, the key issue is the definition of what constitutes a long-term financial services product. I will speak from practical experience. Many ordinary people have approached Members about difficulties with various...

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Second Stage (21 Jun 2017)

Kieran O'Donnell: At 10.30 a.m. tomorrow.