Written answers
Wednesday, 3 May 2017
Department of Finance
Central Bank of Ireland Investigations
Catherine Connolly (Galway West, Independent)
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137. To ask the Minister for Finance the number of prosecutions which have arisen from the offences set out in section 12 of the Consumer Credit Act 1995 (details supplied); the names of the parties prosecuted; the outcome of these prosecutions; and if he will make a statement on the matter. [20888/17]
Michael Noonan (Limerick City, Fine Gael)
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As the Deputy may be aware, the Central Bank has the power to prosecute summary offences under the Consumer Credit Act 1995 ("the CCA"). I understand from the Central Bank that, to date, it has not prosecuted any summary offences subject to the powers available to it in the CCA.
The Central Bank also has a statutory reporting obligation to An Garda Síochána, and other agencies, where it suspects a criminal offence may have been committed. The Central Bank also has a range of powers at its disposal under the CCA including, but not limited to, powers to carry out investigations, to publish codes of practice and to bring Civil Proceedings in the High Court.
I also understand that the Central Bank takes its obligations under the CCA very seriously and I expect it to ensure that that financial service providers comply with their obligations under the CCA and other relevant legislation on an on-going basis. Since 2006, 108 Settlement Agreements have been reached for regulatory breaches, including breaches of the Consumer Protection Code, the Criminal Justice (Money Laundering and Terrorist Financing) Act, the Code of Practice on Lending to Related Parties, the Minimum Competency Code, and the Credit Union Act among others, with fines totalling approximately €57 million. The notices for all Settlement Agreements are published on the Central Bank’s website: .
If the Deputy has any particular concerns, I would urge her to make contact with the Central Bank.
Template to accompany requests to the Central Bank for material for replies to PQs, Topical Interest Debates (TIDs) and any other briefing that, up to now, went to the Press Office in the Bank.
It has been agreed with the Central Bank that this template will be used with effect from 24 May 2012.
From that date also, there will be a dedicated email address for requests. Please use instead of the Press email.
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| - | Contact |
|---|---|
| Department of Finance contact(s) | Emer Crooke Antoinette McEntee Mary Farrell Brian Fee |
| Contact telephone numbers | 076 100 7580 6045690 6318059 6318139 6045516 |
| Contact email address | |
| Deputy submitting PQ or TID | Catherine Connolly |
| PQ reference number | PQ 20888/17 |
| Date for answer, priority, written or oral | WRITTEN answer on Wednesday, 3rd May, 2017. |
| Deadline time for reply from the Central Bank | Tuesday Morning 10am |
| The PQ or TID details | To ask the Tánaiste and Minister for Justice and Equality the number of prosecutions which have arisen from the offences set out in section 12 of the Consumer Credit Act 1995 (details supplied see below); the names of the parties prosecuted; the outcome of these prosecutions; and if she will make a statement on the matter. specifically the offences in relation to Part IX of the Act sections 116(1) or (2), 117, 118, 122(3), 123, 124, 127, 128, 129(2), 130, 131(4) or (5), 132, 133(1) or (2), 134 and 135(3) |
| Draft reply or material for inclusion in reply. This material to be completed in Word in the column opposite to facilitate ‘cut and paste’ in D/Finance | “The Central Bank has the power to prosecute summary offences under the Consumer Credit Act, 1995 (the “CCA”). To date, the Central Bank has not prosecuted any summary offences subject to the powers available to it in the CCA. The Central Bank also has a statutory reporting obligation to An Garda Síochána, and other agencies, where it suspects a criminal offence may have been committed. The Central Bank takes these obligations very seriously and complies with them on an on-going basis as appropriate”. |
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