Dáil Éireann Debate, Tuesday - 5 February 2013
238. Deputy Stephen S. Donnelly asked the Minister for Finance further to Parliamentary Question No. 210 of 22 January 2013, his views on whether it is acceptable for a bank to call a customer 44 times in 19 days, in a case in which the initial contact has been made, the lender is in continuous contact with the borrower and has alerted the borrower to underlying health issues; and if he will make a statement on the matter. [5162/13]
View answerAll regulated financial institutions must comply with the provisions of the Central Bank’s ‘Code of Conduct on Mortgage Arrears’ and the ‘Mortgage Arrears – A Consumer Guide to Dealing with your Lender’, and they include the number of times a lender may contact a borrower who is in arrears or in pre-arrears. As the Deputy can appreciate, it is not appropriate for me to comment on an individual case. However, I understand that the Deputy has received correspondence from the financial institution concerned outlining the events in the case referred to in his question. Lenders must comply with the Code of Conduct on Mortgage Arrears as a matter of law. Under Part 111C of the Central Bank Act 1942, the Central Bank has the power to administer sanctions for a contravention of the Code.
