Written answers
Thursday, 29 March 2018
Department of Finance
Central Bank of Ireland Enforcement Actions
Michael McGrath (Cork South Central, Fianna Fail)
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119. To ask the Minister for Finance the fines imposed by the Central Bank on financial institutions in each of the years 2013 to 2017 and to date in 2018; if the institution was a licensed credit institution, retail credit firm, credit servicing firm and other types of financial institution in each case in tabular form; and if he will make a statement on the matter. [14833/18]
Paschal Donohoe (Dublin Central, Fine Gael)
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I am informed by the Central Bank that since 2006, 117 cases have been concluded through the Administrative Sanctions Procedure (ASP)/settlement procedure. This has resulted in the sum of €61,608,525 being imposed by way of monetary sanctions.
Public statements on the Central Bank’s settled ASP cases are available publicly on the Central Bank’s website.
Attached is a table in response to the specific question from the Deputy detailing settled ASP cases involving the types of entities and timespan specified.
| Year | Credit Institutions | Retail Credit Firms | Credit Servicing Firms | Other | ||||
|---|---|---|---|---|---|---|---|---|
| Fines | Amount | Fines | Amount | Fines | Amount | Fines | Amount | |
| 2018 | 0 | €0 | 0 | €0 | 0 | €0 | 0 | €0 |
| 2017 | 2 | €5,425,000 | 0 | €0 | 0 | €0 | 9 | €1,814,970 |
| 2016 | 2 | €4,725,000 | 1 | €4,500,000 | 0 | €0 | 6 | €2,850,750 |
| 2015 | 1 | €5,000,000 | 0 | €0 | 0 | €0 | 6 | €2,333,040 |
| 2014 | 3 | €4,465,000 | 0 | €0 | 8 | €957,450 | ||
| 2013 | 2 | €1,040,000 | 0 | €0 | 14 | €5,308,215 |
Please note Credit Servicing firms were not regulated before 2015 and became regulated via the Consumer Protection (Regulation of Credit Servicing Firms) Act 2015.
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