John Perry (Sligo-North Leitrim, Fine Gael)
Link to this: Individually | In context

Question 111: To ask the Minister for Finance the reason the group of experts established by him and the Department of Communications, Energy and Natural Resources to work on the response to the issue of indebtedness does not contain any representative of the credit union movement, although at least two representatives of the banking sector are among the membership; if the group will be expanded to include relevant expertise from within the credit union movement; when this will be done; and if he will make a statement on the matter. [19820/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
Link to this: Individually | In context

The Deputy will be aware that in February this year I announced the establishment of an Expert Group on Mortgage Arrears and Personal Debt, under the Chairmanship of Mr. Hugh Cooney, an insolvency accountant with KPMG.

The membership of the Expert Group is as follows:

The Group also includes senior officials of the Departments of Finance, Taoiseach, Justice Equality and Law Reform, Social Protection, Communications Energy and Natural Resources, and Environment Heritage and Local Government.

The Group is initially exploring the feasibility of a range of possible options for improving the level of mortgage support to homeowners in difficulty. I expect that the Group's recommendations will be made to me on a rolling basis as it progresses with its findings and that a final report on this phase of the review will be ready by end June 2010.

I am satisfied that the external members of the Group have the relevant expertise in areas relating to mortgage arrears and personal debt. In addition to the expertise of its own members, the Group as part of its fact finding, has received presentations from representatives of the mainstream lenders, sub-prime lenders as well as voluntary organisations supporting home owners in difficulties.

I understand that once the Expert Group changes its focus from mortgage arrears issues to the more general issue of helping those in personal debt, that the Credit Union movement along with others will be given the opportunity to present to the Group.