Rose Conway Walsh (Sinn Fein) | Oireachtas source

One of the greatest causes of pain for Senators is the lack of legislation. This Bill presents the Seanad with an ideal opportunity to push forward legislation which was carefully prepared by Deputy Doherty and Declan O'Farrell in his office. I thank also Séamus MacFloinn for his input and all the others who contributed to the Bill, including those to whom the Minister of State referred. If minor tweaks are needed, they can be made quickly and in a collaborative manner. I also thank Senator Boyhan and Senator Horkan who is also a member of the finance committee.

This is an extremely important Bill because it places consumers who need protection front and centre. It is our job, whether we come from Mayo, Cork, Limerick or elsewhere - we cannot forget the Dubs, at least not before September - to introduce instruments to protect people. This is our opportunity to pass legislation that will make a difference in the lives of those who have been wronged by financial institutions. Members of the joint committee and others know that thousands of bank customers were robbed by being forced off tracker mortgage rates to which they were legally entitled. This group of consumers is still waiting for justice, which is a crime in itself. These are not victimless crimes and those who have been robbed of their money continue to wait. This practice has cost some people their lives and others their relationships and family life. The Bill seeks to make a minor change for thousands of people and we should not take it lightly.

The Bill provides us with an opportunity to facilitate justice for thousands of people. It has been scrutinised and many people have made an input into it. I commend Deputy Doherty on showing the leadership and courage to stand up to the financial institutions and tell them that we, as legislators, are no longer prepared to let this happen on our watch. Let us finalise and enact the Bill. Time should never be a barrier to justice. Our only focus is on providing the legal instruments to protect the rights of people dealing with financial institutions.

The Bill will send a clear message to financial institutions that we are no longer willing to accept their behaviour and that where matters need to be put right, they will be put right collectively. Deputy Pearse Doherty showed leadership in drawing up this Bill, to which many others also made an input.