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Seanad: Credit Reporting Bill 2012: Second Stage (11 Dec 2013)

Hildegarde Naughton: ...overestimated their earnings to secure loans. We know of older parents re-mortgaging their own homes to help their children get on the property ladder. There appeared to be no checks and balances to protect the institutions from being overexposed or to protect the consumer from borrowing beyond his or her ability to repay. Financial institutions and consumers were exposed, accordingly,...

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