asked the Minister for Industry, Commerce and Energy if he has any plans to introduce measures to ensure that all advertisements, information brochures and so on, relating to hire-purchase and loan facilities be required to display the true rate of interest to the borrower.
Written Answers . - Credit Facilities .
64.
: The Consumer Information Act, 1978, provides for the making of orders requiring disclosure of necessary information relating to sale of goods, advertising of goods and services, and the meanings of words or expressions used in that context. These powers enable me to require disclosure of the information referred to by the Deputy and in the making of any orders under the Act I shall have regard to the need for such disclosure. The Consumer Information Act does not apply to banks licensed under the Central Bank Act 1971. I understand, however, that the associated banks are at present arranging for the provision of informative notices and leaflets on fees, charges and related matters.