Consumer Protection

Dáil Éireann Debate, Wednesday - 8 February 2012

Wednesday, 8 February 2012

Questions (45)

John Paul Phelan

Question:

42 Deputy John Paul Phelan asked the Minister for Finance if it is reasonable that borrowers should be entitled to see the original contract that exists between the financial institution and themselves; if there is a law or regulation that requires the original documentation to be retained by lenders or is it more typical that the bank saves only the electronic files; and in the event that the original documentation is not available to the borrower, is that borrower entitled to an invoice detailing the precise services rendered. [6986/12]

Written answers

Minister for Finance (Deputy Michael Noonan)

The Central Bank has advised me that Chapter 11 of their Consumer Protection Code details the records that are to be held by each lender in respect of people classified as ‘consumers' under the Code. The Central Bank would consider it reasonable for a consumer to see these records if the originals cannot be located by the person.

A copy of the Code is available on the Central Bank's website: www.centralbank.ie

Questions Nos. 43 to 45, inclusive, answered with Question No. 39.