Credit Review Bill 2024: Second Stage
Seanad Éireann — 2026-01-21
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Robert Troy (FF), Longford-Westmeath

I did not get it the last time I was there, but he was not a Senator at the time, so he did not require the vote.
In all seriousness, this is somebody who is creating jobs in a rural location. That is really what this Bill is about. It is about protecting jobs and businesses. It is not an insignificant amount of money that the office has ensured stayed in the economy.
It is €86.35 million that perhaps would not have been in the economy were it not for the establishment of this office. That means keeping businesses afloat and supporting jobs, so it is very important.
I thank all Senators for their support of the Bill. As Senator O'Reilly said, it is not only the €86 million that has been continued. It is the very threat of the office that has kept the banks focused on ensuring that due diligence is taking place and that they are taking the correct decisions when they are assessing loans. They know that if the decision taken is not right, the threat of referring it to the Credit Review Office is there. That also helps.
In relation to the transfer of loans from commercial banks or high street banks to funds, if those funds do not adhere to the terms and conditions set out in the original loan application, the funds are then acting against legislation. Legislation is there to ensure the terms and conditions for loans that are transferred are honoured.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/seanad/2026-01-21/debate/main
Retrieved: 2026-08-14T04:54:31+00:00
Sitting date: 2026-01-21