Written answers

Wednesday, 15 January 2014

Department of Finance

Legislative Reviews

Photo of Dominic HanniganDominic Hannigan (Meath East, Labour)
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166. To ask the Minister for Finance if the review of section 149 of the Consumer Protection Act 1995 undertaken by his Department has been completed; if the review will be published; and if he will make a statement on the matter. [1812/14]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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Minister for Finance ( Mr Noonan): The Programme Documents (the Memorandum of Understanding on Specific Economic Policy Conditionality and the Memorandum of Economic and Financial Policies) agreed following the 10th Review of the EU-IMF Programme of Financial Support include a commitment to carry out an assessment of banks’ fee income by end-December 2013 as follows:

The authorities will assess banks’ fee income relative to peers in selected other jurisdictions. Based on this assessment they will complete an external review of the regulation of bank fees.

The assessment and review were undertaken by the Department and completed in December 2013. The review was sent to the Troika on completion and my intention is that the report will be published shortly.

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