Seanad debates

Tuesday, 2 July 2013

Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages

 

4:30 pm

Photo of Darragh O'BrienDarragh O'Brien (Fianna Fail) | Oireachtas source

It may be. I have tried to raise it on a number of occasions over the past week in advance of this being published. I was told this morning by Senator Cummins that the opportunity to raise it would be here this evening during the debate on the Bill. I see that there is a problem with doing that, but we have not, unfortunately, been provided with any time to discuss the new code of conduct on mortgage arrears. The Central Bank, which is the subject of the Bill, is allowing the banks to make as much contact with customers as they deem fit. The limit of three times a month which was set out in the previous statutory code is gone. The Central Bank says it will allow proportionate and not excessive contact. However, there is no definition of that.

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