Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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466. To ask the Minister for Finance the Government’s overall policy in relation to the protection of households and businesses from aggressive debt collection practices by financial institutions such as a firm (details supplied); and the steps being taken across Government to ensure that debt recovery is conducted in a fair, proportionate and transparent manner consistent with the rights of debtors. [46994/25]

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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586. To ask the Minister for Finance if a firm (details supplied) is in full compliance with Central Bank regulations governing debt collection; and the steps being taken by the Central Bank to ensure that financial institutions do not engage in practices that may constitute harassment of debtors. [46993/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 466 and 586 together.

All entities involved in the business of providing credit or servicing a credit agreement entered into by a consumer are required to be authorised by the Central Bank of Ireland. This includes entities involved in managing or administering a credit agreement, such as for the purposes of collecting or recovering payments due under the agreement.

All such entities are supervised by the Central Bank of Ireland and have to comply with the relevant provisions of financial services legislation, regulations and codes. This includes the Central Bank of Ireland's Consumer Protection Code and the Code of Conduct on Mortgage Arrears.

The Central Bank of Ireland's regulatory and consumer protection framework seeks to ensure that all regulated entities are transparent and fair in all their dealings with borrowers and that the borrower is protected from the beginning to the end of the loan life cycle.

The consumer protection framework requires regulated entities to act honestly, fairly and professionally in the best interest of their customers. It also sets out more prescriptive requirements on how such entities should deal with their consumers in particular situations, including where a borrower is experiencing difficulty in meeting the repayments on a loan agreement.

Any person or small business who feels that have been treated unfairly by a regulated entity in relation to the handling of a credit agreement should make a complaint in the first instance to the regulated entity.

In the event that this complaint is not resolved to the satisfaction of the person or small business, they may complain to the Financial Services and Pensions Ombudsman. This independent office was put in place to provide an independent, fair, impartial, confidential, and free service to consumers and small businesses to help resolve complaints against financial service providers and pension service providers.