Colm Burke (Fine Gael) | Oireachtas source

Following on from what Senator Marc MacSharry said in regard to the banks, it is important that a structure be put in place for dealing with the issues faced by many borrowers. I am concerned at the lack of joined-up thinking by all banks in regard to how they approach those who are in serious difficulty. I understand that different rules operate if the borrower employs a solicitor to speak to the banks as opposed to a retired bank official acting as the go-between between the borrower and the bank. There is a need for the banks, the Department, the legal profession and the accountancy profession to set up a proper structure. Legal officers are getting letters from the banks inviting the bank's client to fill in a form after which they will deal with the issues but they are not prepared to enter into discussions with members of the legal profession or the accountancy profession. That is wrong. It is not long ago since banks relied, and still do, on legal undertakings given by solicitors. Now they do not want to deal with the professions but rather their former employees who are acting as consultants. The issue needs to be dealt with at an early date. There is no point in each of the banks adopting a different attitude to borrowers in various parts of the country. As there is no overall procedure in place the issue needs to be dealt with immediately.