Banking Sector
Dail Éireann — 2023-01-24
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Pearse Doherty (SF), Donegal

Can I clarify something with the Minister? The programme for Government committed to assess the CCMA, including the available suite of alternative repayment arrangements, and to ensure it has full legal effect. Is the Government going to do that or is it just saying that the Central Bank is carrying out a piece of work that will take us up to 2025? This is a far wider consumer protection piece of work and is very important. Is the Government going to fulfil its commitment under the programme for Government? There is an issue in respect of the alternative repayment arrangements and the suite which is available. As I said earlier when we were talking about mortgage interest relief, tracker mortgage customers who were paying 3.5% in June are now being forced to pay a 7% interest rate. There is no option for them to fix. The Minister says that the CCMA has full legal effect but when a vulture fund only offers a customer to pay his or her interest or mortgage, where does a borrower go in those circumstances?

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2023-01-24/debate/main
Retrieved: 2026-08-27T06:54:42+00:00
Sitting date: 2023-01-24