Results 14,721-14,740 of 36,321 for speaker:Pearse Doherty

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)

Pearse Doherty: No, that is not what the code of practice says. I will go through it if Mr. Crowley wishes. It states:When seeking a consent and where there is to be or where there may be an arrangement under which the original lender will service the mortgage as an agent of any transferee, the lender will confirm that the transferee’s policy on the handling of arrears and in the setting of mortgage...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)

Pearse Doherty: Mr. Masding is the top guy. This is the code of practice on the transfer of mortgages. I will read Mr. Masding the first line again: "A loan secured by the mortgage of residential property may not be transferred without the written consent of the borrower." Permanent TSB is a State-owned institution. I acknowledge the code is voluntary and I will table legislation in the coming days to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)

Pearse Doherty: I apologise for interrupting but the code does not say anywhere that it is voluntary. It does not say it is statutory - that is all. I take it Mr. Masding was not familiar with the code.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)

Pearse Doherty: Is it not the case that Permanent TSB applies the Central Bank's code of conduct on mortgage arrears, which is voluntary?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)

Pearse Doherty: It does so although in the original contract there is no real requirement for the bank to engage with those types of measures. The bank has legal rights to do certain things and while the code of conduct limits these in a certain way, the bank complies with it. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)

Pearse Doherty: That is fine. The point I am making is that Permanent TSB is a State-owned bank. The public owns this bank.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)

Pearse Doherty: Yes. The State is the majority - 75% - owner of this bank.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)

Pearse Doherty: I have one more point to make after this. Permanent TSB is completely disregarding the code of practice on the transfer of mortgages because that code does not suit it. This is something that was agreed by the Central Bank. It is not coming from afar. Permanent TSB is deciding that something which is in place does not suit it. It knows that if it asked for the consent of its customers,...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)

Pearse Doherty: I suggest that the bank should talk to its customers for a start. I will not go into the mess that the bank made of its split mortgages. Those mortgages are defined as non-performing. In other banks that got it right, they are not defined as non-performing.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)

Pearse Doherty: I have a question for Mr. Ryan.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)

Pearse Doherty: The major concern when banks are selling to the vulture funds is that there is no long-term interest. Pepper is an agent. It is clear from the prospectus that this can be sold at any time. Indeed, Pepper can be removed as the agent at any time by this vehicle. We have no idea who owns the vehicle. The big concern here relates to certainty. Regardless of people's opinions of high-street...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)

Pearse Doherty: Will the assessment of income be the exact same as that done by Permanent TSB?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)

Pearse Doherty: Exactly-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)

Pearse Doherty: If Pepper is not using the same assessment as Permanent TSB, there will be a difference.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)

Pearse Doherty: The operating committee-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Permanent TSB Mortgage Loans: Discussion (6 Dec 2018)

Pearse Doherty: I asked where the operating committee is dealt with in the prospectus. Mr. Ryan might be able to answer that question. Where is the operating committee referred to in the prospectus?

Consumer Credit (Amendment) Bill 2018: First Stage (6 Dec 2018)

Pearse Doherty: I move: "That the Bill be taken in Private Members' time."

Consumer Credit (Amendment) Bill 2018: First Stage (6 Dec 2018)

Pearse Doherty: I move:That leave be granted to introduce a Bill entitled an Act to place a cap on moneylenders’ interest rates, by amending the Consumer Credit Act 1995. Leaflets from legal and licensed moneylenders have been distributed recently in my part of County Donegal, an area of high deprivation which has more than double the national unemployment rate. Such leaflets are also being...

Ceisteanna ar Reachtaíocht a Gealladh - Questions on Promised Legislation (6 Dec 2018)

Pearse Doherty: Licensed moneylenders are currently permitted to charge anything up to 188% of interest, excluding collection charges. When collection charges are included the rates of interest increase to 287% per annum. There are an estimated 330,000 customers of these moneylenders and approximately €153 million on loan to them in Ireland. This represents around 2% of the overall market. Those...

Ceisteanna ó Cheannairí - Leaders' Questions (6 Dec 2018)

Pearse Doherty: I also want to refer to the review published yesterday by the HSE of the 46,000 radiology scans carried out at University Hospital Kerry in Tralee. The report has found that 11 patients had their diagnosis of cancer delayed and that four of them have since passed away. Some of the 11 patients received the report by taxi, which is not an appropriate or patient-centred way to deliver a report...