Dáil Éireann Debate, Thursday - 3 October 2013
71. Deputy Luke 'Ming' Flanagan asked the Minister for Finance when the Credit Union owned CUSOP will receive its authorisation from the Central Bank; if the Government is fully supportive of this initiative; and if he will make a statement on the matter. [41554/13]
View answerA Credit Union Service Organisation for Payments (CUSOP) requires a Payments Institution licence to operate electronic payment accounts for credit unions. Authorisation for the provision of such a service is a matter for the Central Bank. I have been informed by the Central Bank that they cannot provide details related to any application for authorisation due to the confidentiality provisions set out in Section 33AK of the Central Bank Act 1942 (as amended).
