Aideen Hayden (Labour) | Oireachtas source

I also seek a debate on the code of conduct on mortgage arrears. I accept it is asking the impossible of the Leader that he have the Minister for Finance, Deputy Noonan, in the House today. I am not even convinced that is a good idea because I believe we need time to digest what is contained in the code of conduct on mortgage arrears and the responses of other groups to it. The Leader will be aware that I have called for a debate on this issue on a number of occasions. I am disappointed we did not have an opportunity to have an input into the code of conduct on mortgage arrears before its publication. In my opinion, it is a akin to closing the stable door after the horse has bolted.

It was stated on publication of the report that the code of conduct was arrived at following engagement with a number of consumer interests. I would like to know the consumer interests with whom there was engagement.

There is evidence that organisations such as FLAC were not engaged with in the context of their concerns. I would like to establish how many distressed mortgage holders were engaged with when conclusions were being reached in respect of the code of conduct relating to mortgage arrears. While I accept that there has been a degree of rowing back on some of the initial proposals, I do not believe this should blind us to the fact that the code of conduct on mortgage arrears is more generous to lending institutions than it is to distressed borrowers. That is the reality of the matter.