Gerald Nash (Louth, Labour)
Link to this: Individually | In context | Oireachtas source

385. To ask the Minister for Finance what regulations and policies covers the operation of ATMs in the State; what are the requirements for these to be made accessible to disabled people; who is responsible for regulating this area; and if he will make a statement on the matter. [17140/23]

Gerald Nash (Louth, Labour)
Link to this: Individually | In context | Oireachtas source

386. To ask the Minister for Finance what regulations and policies cover credit card terminals in the State; what are the requirements for these to be made accessible to disabled people; who is responsible for regulating this area; and if he will make a statement on the matter. [17141/23]

Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

I propose to take Questions Nos. 385 and 386 together.

In Ireland, the operation of Independent ATM Deployers (IADs) is currently not a regulated activity. This was highlighted in the recent publication of the Retail Banking Review which also recommended that they be authorised and supervised by the Central Bank of Ireland. Department officials are currently working on this legislation and it is expected heads of a Bill will be published by the end of 2023 which will require IADs to be authorised and supervised by the Central Bank.

It is worth noting that whilst IADs currently are not regulated by the Central Bank of Ireland, they are regarded as Professional Cash Handlers by the Central Bank. The Central Bank monitors all Professional Cash Handlers involved in the recirculation of euro banknotes for compliance with the Decision of the European Central Bank (ECB/2010/14) on the authenticity and fitness checking and recirculation of euro banknotes. Professional Cash Handlers must ensure compliance with Decision ECB/2010/14 prior to distribution of euro banknotes via ATMs, etc.

The Private Security Authority, an agency under the aegis of the Department of Justice, is responsible for regulating the security requirements for ATMs and the security arrangements around the transfer of cash to and from ATMs

With regard to the regulation of credit card terminals, I will assume the Deputy is referring to point of sale (POS) systems. The provision of the equipment used for POS systems and the use of the equipment are commercial decisions for each individual business and neither the Department of Finance or the Central Bank of Ireland would have any role in this. However, the payment transaction made using these terminals is done via payment service provider.

The second Payment Services Directive (PSD2), which was transposed into Irish law in 2018 places a number of regulations and reporting requirements on payment services providers. Such requirements include establishing a framework with appropriate mitigation measures and control mechanisms to manage the operational and security risks, relating to the payment services that it provides. Additionally, it requires payment service providers to provide the Central Bank with comprehensive assessments of operational and security risks on an annual basis. It also requires payment service providers to notify the Central Bank if and when a major security or an operational event occurs.

The Central Bank's Consumer Protection Code 2012 (the Code) applies to regulated financial service providers providing regulated activities within the State. Under the provisions of the Code the Central Bank expects that all regulated firms take a consumer-focused approach and to act in their customers’ best interests, particularly in dealings with vulnerable consumers. The Code contains a number of provisions aimed at ensuring that vulnerable people can gain access to mainstream financial services.

Provision 2.11 of the Code provides that a regulated firm must not, through its policies, procedures, or working practice, prevent access to basic financial services. This provision aims to ensure that vulnerable people can gain access to mainstream financial services.

Provision 3.1 of the Code provides that “where a regulated entity has identified that a personal consumer is a vulnerable consumer, the regulated entity must ensure that the vulnerable consumer is provided with such reasonable arrangements and/or assistance that may be necessary to facilitate him or her in his or her dealings with the regulated entity.”

All regulated firms should take a consumer-focused approach and act in their customers’ best interests, particularly in dealings with vulnerable consumers.

In addition, the European Accessibility Act (Directive (EU) 2019/882) will introduce common accessibility requirements across the EU for certain products and services.  These include payment terminals (e.g. in shops or restaurants), self-service terminals including ATMs, and consumer banking services. However, this has not been transposed into Irish legislation as of yet. My colleague, Minister Roderic O’ Gorman and his Department will lead on this transposition.

Pádraig O'Sullivan (Cork North Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

387. To ask the Minister for Finance if he will provide an update on the progress being made to address cancer survivors' rights (details supplied) in order to secure financial services including mortgage protection; and if he will make a statement on the matter. [17186/23]

Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

I am aware of the issue of access to financial services – in particular mortgage protection insurance – for individuals who have recovered from cancer. This is a very sensitive and important matter for many in our community.

Both Minister of State Carroll MacNeill and I have recently met with senior representatives of the insurance industry and pressed the importance of this issue to cancer survivors, and the significance that Government places on the matter. I have also met with the Irish Cancer Society and discussed the issues that cancer survivors encounter and it’s Right-to-be-Forgotten proposal.

As the Deputy may be aware, Insurance Ireland and its members have recently announced a new Code of Practice for Underwriting Mortgage Protection Insurance for Cancer Survivors. This is a significant step in helping to address this issue. It is important to now take the time to fully reflect on this proposal from industry, in order to ensure that it delivers the desired outcomes. Some aspects will need further clarification and development in the period ahead.

Furthermore, access to financial services for cancer survivors is also being considered at EU-level, including through ‘Europe’s Beating Cancer Plan’, which was published in 2021. Following publication of an initial exploratory study in May 2022, EU Health Commissioner Stella Kyriakides has stated that this year the Commission “will start working with businesses to develop a code of conduct, ensuring access to financial services for people who have finished their treatment, after a certain number of years”. It is understood that it is planned the Code of Conduct is to be adopted by 2024.

In addition, the inclusion of a Right-to-be-Forgotten provision is being considered as part of the ongoing EU-level negotiations on the Consumer Credit Directive. The Department of Finance is closely monitoring these developments, while considering any separate measures introduced at the national level do not conflict with a future EU Code of Conduct. Given the complex and sensitive nature of this issue, this represents the best course of action at present.

Finally, as the Deputy may be aware, under existing legislation (Section 126 of the Consumer Credit Act 1995), lenders are permitted to provide a mortgage in situations where a borrower may be unable to obtain life insurance, or where such insurance is unduly costly compared to that payable by borrowers generally. For individuals, including those recovering from cancer, who may experience difficulties acquiring mortgage protection insurance when securing a home loan, this is an important provision to be aware of.