Dáil Éireann Debate, Monday - 11 September 2023
431. Deputy Fergus O'Dowd asked the Minister for Finance if he will respond to serious concerns raised by a person (details supplied) in respect of the issues arising with a mortgage provider; if he will intervene to ensure this type of behaviour and lack of engagement ceases once and for all; and if he will make a statement on the matter. [37421/23]
View answerI would like to thank the Deputy for raising this matter, and I hope the issue can be quickly and satisfactorily resolved by the particular financial firm.
All regulated entities are required to act with due skill, care and diligence in the best interests of their customers and if a person is not satisfied with the service provided by a regulated entity the person should, in the first instance, raise the matter directly with the regulated firm.
From the details provided by the Deputy I note that has happened in this particular case. If the person is not satisfied with the response from the regulated firm, the person can then refer the complaint to the Financial Services and Pensions Ombudsman (FSPO). This is the independent statutory Office put in place by the Oireachtas to consider and as necessary adjudicate on complaints between regulated financial service providers and their customers. As Minister I have no role in the investigation of complaints between a regulated entity and one of its customers.
While it does not have a role in the investigation of individual complaints, the Central Bank of Ireland is the regulator of regulated financial service providers and, in that context, it welcomes information received directly from customers and their representatives in relation to their experiences of financial services firms, including regulated mortgage entities.
Therefore, I have asked the Bank to make contact with the Deputy on this particular matter. Also any customer of a regulated financial services firm may directly raise a matter with the Central Bank at the following email address: enquiries@centralbank.ie. However, it should be noted that the Central Bank’s engagement with any individual or regulated entity will be governed by the confidentiality provisions as provided for in section 33AK of the Central Bank Act 1942 (as amended).
