Marie Sherlock (Labour) | Oireachtas source

I thank the Minister of State for bringing this before the House. We very much welcome the regulations as necessary. We understand the reason the motion has been brought forward today is because of a very technical ground relating to a formatting error, but this should not stop us from commenting on the purpose and implementation of the regulations. As was so eloquently articulated by Senators Byrne and Boyhan, there are very real concerns with regard to the appropriate safeguards put in place and the resourcing of the Data Protection Commissioner. In order to restrict individual access rights under GDPR, which is a very serious undertaking and matter, there needs to be a proportionate response by the Government in providing these assurances with regard to safeguards, and in resourcing the Data Protection Commission to make individuals aware that they have recourse to the Data Protection Commission in the event of a complaint and to process complaints. This is very important in terms of ensuring there is confidence in the banking sector.

Senator Byrne spoke about the revolution - and I do not want to use the name of one of the competitors - that is happening in financial services at this point in time in this country and throughout the industrialised world. It is very important that we send a very strong signal to consumers that protections are in place because my sense from speaking to people who have various grievances against the banks is that the power is very much stocked with the bank and against the individual. We need to send a clear signal that individuals can be empowered to make a complaint and that it will be processed. Whether the complaint is with merit or not is beside the point but there should be confidence that it will be processed in a timely and appropriate fashion.