Seanad debates

Thursday, 2 July 2015

Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Report and Final Stages

 

10:30 am

Photo of Tom ShehanTom Shehan (Fine Gael) | Oireachtas source

I will be brief. Likewise, I thank the Minister. On a point of clarification, is the legislative retrospective to loans that have already been taken over? What the Minister said was that loans would from now on be covered by this legislation and the owners of the loans would be covered. Under the code of conduct, is it right and correct and proper that they have consistently refused to meet and discuss the terms of facility agreements, that they have continued to use aggressive communications, that they have sought to impose the appointment of an external consultant to review businesses despite the fact that there is no breach or potential breach of the loan terms, and that they insist that its nominated consultant be allowed to attend board meetings?Would that come under the remit of the Central Bank, its terms and conditions or its code of conduct?

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