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- Financial Services and Pensions Ombudsman (Amendment) Bill 2023: Second Stage (8 Feb 2024)
Gerald Nash: .... There is a massive imbalance of power. Our society is replete with examples of banks and other financial services institutions using untrammelled power in the past - indeed, some are using it still - to wreak havoc and destroy lives. We need to value independent and impartial bodies like the FSPO and make the necessary investments and adjustments to the legislative provisions...
- Financial Services and Pensions Ombudsman (Amendment) Bill 2023: Second Stage (8 Feb 2024)
Martin Kenny: ...large loans they were unable to meet. Banks and financial institutions put huge pressure on individuals and small businesses and left them in a situation where they practically bankrupted them and destroyed their lives. As the Minister knows, many people were in serious distress to the stage their mental heath suffered seriously as a consequence. I believe we now have an obligation, in...