Tuesday, 4 February 2014

Questions (180)

Pearse Doherty

Question:

180. Deputy Pearse Doherty asked the Minister for Finance the number of applications that have been granted by the Central Bank under section 149 of the Consumer Credit Act for the provision of a new service or an increase in existing customer charges by each bank operating here since 1 October 2013; and if he will detail each application granted. [5413/14]

View answer

Written answers (Question to Finance)

Section 149 of the Consumer Credit Act 1995 (as amended)  came into effect in May 1996 and requires that credit institutions and bureaux de change notify the Central Bank if they wish to:

- introduce any new customer 'charge' for providing a service or

- increase any existing customer 'charge' for providing a service. 

The following table, provided by the Central Bank, shows the notifications processed by the Central Bank under Section 149 of the Act between 1 October 2013 and 31 January 2014. 

Section 149 Notifications

Notifications

Number

Full Approval

7

Partial Approval

1

Rejections

0

Exemptions

1

Total

9

Note : ('partial approval' figures may include some rejected charges)

I as Minister for Finance do not have a role in approving or rejecting a charge notified to the Central Bank and so I am not in a position to provide details of each application approved by the Central Bank.