Michael McGrath (Cork South Central, Fianna Fail)
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81. To ask the Minister for Finance the number of complaints that have been made against banks for non-compliance with the code of conduct on mortgage arrears since it was instituted, the number that have been upheld, the sanctions that have been imposed for non-compliance, the maximum sanction that may be handed down; and if he will make a statement on the matter. [42266/15]

Michael Noonan (Limerick City, Fine Gael)
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I am informed by the Central Bank that it does not publish statistics in relation to the number of complaints against banks for non-compliance with the CCMA.

The Central Bank monitors compliance with the statutory consumer protection requirements through its ongoing engagement with firms, reviews and research, themed inspections, mystery shopping, and advertising monitoring.  The Central Bank regularly conducts themed inspections to ensure compliance with all of its codes of conduct, including the CCMA.  Details of these themes and the feedback issued can be found at: .  Themed inspections examine issues across a sector. Where a specific compliance issue arises with an individual firm, this is addressed directly with the firm and, where appropriate, supervisory action is taken.

I am further informed by the Central Bank that to date it has not imposed a sanction on a mortgage lender in relation to breaches of the CCMA.  However, it is important to note that supervisory intervention is not limited to the use of administrative sanctions.  Where breaches of any regulatory requirements occur, firms and/or individuals can expect vigorous investigation and follow through by the Central Bank.

In June 2015 the Central Bank completed a themed inspection of compliance with the CCMA. The themed inspection included onsite inspections of a number of regulated mortgage lenders to examine the processes in place around certain provisions of the CCMA and the controls lenders have in place to ensure compliance with those processes and the CCMA.  The Central Bank released the findings from this work in June 2015 and further details are included in the Press Release, which is on the Central Bank's website -

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The Code of Conduct on Mortgage Arrears (the Code) provides a strong  consumer protection framework to ensure that borrowers struggling to keep up mortgage repayments are treated in a fair and transparent manner by their lender, and that long-term resolution is sought by lenders with each of their borrowers.

It is important that the Code is fully implemented by all lenders and that borrowers can be confident that any breaches of the Code will be swiftly identified and dealt with by the Regulator.  The Central Bank has stated that it has the powers to manage this process effectively and I expect it to take whatever steps are necessary to ensure that all customers are protected.