Malcolm Noonan (Carlow-Kilkenny, Green Party) | Oireachtas source

I again point out that as the independent regulator, the Central Bank has indicated on many occasions that it expects all regulated firms to take a consumer-focused approach and to act in the consumer's best interests at all times.Last November the Central Bank wrote to all regulated entities to make clear to them that the firms are required to address potential risks arising from a changing operational and economic landscape and to ensure they have consumer service capacity and structures in place to meet expected service levels and provide a timely and customer-focused service through all channels. If consumers are not satisfied with how a regulated firm is dealing with them in the handling of their mortgage, or they believe a regulated firm is not following the requirements of the Central Bank's codes, regulations or other financial services law, they should make a complaint directly to that regulated firm.

The Minister has quite clearly stated that he would ask lenders to engage in a positive way with prospective borrowers. Senator O'Loughlin has stated that other lenders are offering flexibility. This is the thrust of the message the Minister is putting out to the lenders. I want to pass on this message.