Diarmuid Wilson (Fianna Fail) | Oireachtas source

I move amendment No. 5:

In page 6, between lines 10 and 11, to insert the following:“(2) Section 33A of the Central Bank Act 1997 is amended by inserting the following subsection after subsection (5)—

“(6) The Bank shall also impose, on a debt management firm and or a credit servicing firm, a condition that a customer shall, within 30 days of his or her credit agreement being sold be:

(a) advised of the terms on which his or her credit agreement was sold,

(b) advised on any material change to the terms under which the credit agreement is serviced,

(c) advised whether the loan was sold at a discount, and

(d) provided with details of his or her rights under—

(i) the Code of Conduct on Mortgage Arrears 2013, and

(ii) the Financial Services Ombudsman.”.”.