John Gormley
Question:39 Mr. Gormley asked the Tánaiste and Minister for Enterprise, Trade and Employment the role of her Department in overseeing the work of the Office of the Director of Consumer Affairs. [13908/04]
View answerThursday, 13 May 2004
Questions (42)
Written answers
Under section 9(5) of the Consumer Information Act 1978, the Director of Consumer Affairs "shall be independent in the performance of his functions". Within this context, both my officials and I meet and liaise regularly with the director and her officers.
In so far as the Deputy is referring to current investigations into foreign exchange charges at Allied Irish Banks, under section 149 of the Consumer Credit Act 1995, credit institutions were obliged to notify the director of all customer charges. I am informed by the director that her office has been in contact with the Irish Financial Services Regulatory Authority, IFSRA, and I look forward to the outcome of IFSRA's investigation. The Deputy will be aware that in May 2003 the Central Bank and Financial Services Authority of Ireland Act 2003 came into force transferring responsibility for many of the provisions of the Consumer Credit Act from the director's office to IFSRA.