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Mortgage Arrears Proposals

Dáil Éireann Debate, Tuesday - 8 April 2014

Tuesday, 8 April 2014

Questions (136)

Pearse Doherty

Question:

136. Deputy Pearse Doherty asked the Minister for Finance the number of stakeholders that met during the pre-consultation phase of the 2013 review of the code of conduct on mortgage arrears; and if he will list these stakeholders. [16503/14]

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Written answers

The Central Bank Consultation Paper (CP63) on the Review of the Code of Conduct on Mortgage Arrears (CCMA) was published on 13 March 2013.  The Central Bank has informed me that issues considered as part of this review were informed by, and developed through, a process of pre-consultation engagement with key industry and consumer stakeholders.  They also reflected analysis of mortgage arrears information, outcomes of consumer-based research and the results of themed inspections, undertaken by the Central Bank, of lenders' compliance with certain aspects of the 2010 CCMA. The stakeholders met as part of this pre-consultation were as follows: MABS/CIB; FLAC; FSO; ISI; Troika; IBF; and Other individual consumer advocates. 

While the process of pre-consultation assisted in informing the Central Bank of the issues to be considered in the Consultation Paper, the revised CCMA was informed by a public consultation process with in excess of 200 submissions received, in addition to findings of consumer research and inspections of lenders' compliance by the Central Bank with certain aspects of the CCMA.

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