17 Oct 2018, 15.35

The impact on businesses, farmers and other customers when Irish banks sell loan portfolios to unregulated investment funds will be explored on Thursday, Oct. 18, at the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach.

The meeting in Committee Room 2 begins at 9:30 a.m. and is expected to turn to the topic of loan sales at approximately 11 a.m.

Proceedings can be viewed live here and on Android and Apple devices using the Houses of the Oireachtas app.

Scheduled witnesses include

  • Irish Farmers’ Association President Joe Healy, accompanied by IFA Farm Business Chairman Martin Stapleton and IFA Director General Damian McDonald
  • Chief Executive Neil McDonnell of ISME, the Irish Small and Medium Enterprises Association; and 
  • Financial advisor Padraic Kissane, director of Padraic Kissane Financial Services. 

“The sale of loans by Irish banks to so-called 'vulture' funds is a source of understandable worry for many people nationwide,” said Committee Chairman John McGuinness TD. “The Committee is eager to hear the experiences of farmers, small business owners, property owners and families placed in this situation and whether more can reasonably be done to support them.”

Separately, the Committee will discuss the governance and regulation of receivers with officials from the Department of Business, Enterprise and Innovation and the Department of Justice and Equality.

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Solidarity - People Before Profit


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