Kathryn Reilly (Sinn Fein) | Oireachtas source

I move amendment No. 21:

In page 49, between lines 39 and 40, to insert the following:" 'debt collector' means a person who for remuneration collects or seeks to collect consumer credit debt;".

This matter was debated in the Dáil on Report Stage, but it was shifted to the justice portfolio. However, there are wider issues. The amendment is specifically worded to limit debt collection as a financial service. Therefore, it is eligible for inclusion in the Bill.

Under the amendment's definition, debt collectors provide a financial service and should be regulated as such. Unfortunately, a greater number of people must turn to such providers. After the revision of the code of conduct on mortgage arrears, more people will move in this direction. The gap in this otherwise fine legislation should be remedied. The matter should not be kicked to another Minister's office. There is no reason that we cannot empower the Central Bank to regulate those who collect consumer credit. Will the Minister consider supporting these amendments or examining them in advance of Report Stage?