Finian McGrath (Dublin North Central, Independent)
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80. To ask the Minister for Finance the State body or authority that is responsible for supervision and enforcement of a lending institution's obligations under the Consumer Credit Act 1995, if it is a criminal summary offence for a regulated lending institution to fail or refuse to comply with this Act, specifically part 9 Section 129 Subsection 2 (details supplied); and if he will make a statement on the matter. [13823/15]

Michael Noonan (Limerick City, Fine Gael)
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The Central Bank of Ireland is the appropriate authority on this matter. Section 12 of the Consumer Credit Act 1995 provides that a breach of section 129(2) of that Act is a criminal offence prosecutable summarily by the Central Bank.  A breach of section 129(2) may also be capable of being pursued by way of the Administrative Sanctions Procedure. 

The Central Bank has advised that where both the Administrative Sanctions Procedure and summary criminal prosecution are available, the Central Bank may decide to pursue prescribed contraventions through the Administrative Sanctions Procedure instead of bringing a summary prosecution.  However, the Central Bank will consider the circumstances of each case on its merits and may decide to pursue matters which constitute both a prescribed contravention and a criminal offence via the criminal courts.  In deciding whether or not to pursue criminal proceedings, the Central Bank will exercise its discretion, having regard to the Director of Public Prosecution's "Guidelines for Prosecutors".