Dáil Éireann Debate, Thursday - 20 February 2014
88. Deputy Michael McGrath asked the Minister for Finance the number of requests for increases in fees and charges submitted by banks to his Department in each year since 2011; the number that have been approved; and if he will make a statement on the matter. [8842/14]
View answerSection 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, not my Department, if they wish to:
- introduce any new customer 'charge' for providing a service or
- increase any existing customer 'charge' for providing a service.
I do not have the data in the exact format requested by the Deputy. However the recent report on the Regulation of Bank Fees and Charges by my Department provided details of Section 149 Notifications to the Central Bank in 2012 and 2013* as follows:
|
Notifications |
2012 |
2013 |
|
Full Approval |
9 |
11 |
|
Partial Approval |
7 |
4 |
|
Rejections |
0 |
1 |
|
Exemptions |
4 |
2 |
|
Total |
20 |
18 |
* Data correct as of 28 November 2013.
Note: Partial Approval figures may include some rejected charges. This report is available on My Department's website at www.finance.gov.ie.
The Central Bank confirmed to the Joint Committee on Finance and Public Expenditure and Reform that the figures for 2011 were as follows:
|
Notifications |
2011 |
|
Full Approval |
15 |
|
Partial Approval/rejections |
10 |
|
Exemptions |
11 |
|
Total |
36 |
The following table, also 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).
This latest information was included in a reply to a Parliamentary Question on 4 February. I trust that this provides sufficient information to the Deputy on the outcome of applications for increases in fees and charges.
