Finian McGrath (Dublin North Central, Independent)
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124. To ask the Minister for Finance his views on correspondence (details supplied) regarding the Consumer Credit Act 1995; and if he will make a statement on the matter. [19412/15]

Michael Noonan (Limerick City, Fine Gael)
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I have been informed by the Central Bank that it investigates specific complaints made and, where appropriate, will exercise its discretion to pursue a case under the Administrative Sanctions Procedure or a summary criminal prosecution.  As to the question of how the Central Bank will exercise this discretion, the Central Bank has indicated that this will wholly depend on the particular circumstances of each case.  If a person has specific concerns regarding suspected failure by an institution/person concerned in the management of such an institution, to comply with section 129(2) of the Consumer Credit Act 1995, a complaint may be made to the Central Bank and the Central Bank will consider it.   

The Central Bank has as one of its statutory objectives "the proper and effective regulation of financial service providers and markets, while ensuring that the best interests of consumers of financial services are protected" and accordingly seeks at all times to ensure that the best interests of consumers of financial services are protected when implementing its statutory mandate.