asked the Minister for Justice whether his attention has been directed to the provident cheque business established in this country by external finance companies for the exploitation of poor people; and, if so, what steps he proposes to take to control the activities of this moneylending enterprise.
Ceisteanna—Questions. Oral Answers. - Provident Cheque Business.
Mr. Boland
I am aware that a form of business know as the "provident cheque" business is being carried on in this country by several firms most of which are Irish firms.
I am advised that this business does not come within the scope of the Moneylenders Acts and I am not at present prepared to introduce legislation to control the business.
Is the Minister aware of the rates of interest that are being extracted from the poor people by these institutions, and is he aware that the manner in which they conduct their business is well designed to conceal from simple people the rate of interest that is, in fact, being levied upon them, and that the matter is becoming a grave abuse?
Mr. Boland
I have not got any complaints in this connection. I am not aware that what the Deputy has stated is correct, and at the present moment I am not prepared to introduce legislation; but if it is established that there is an abuse of that kind, it will be considered. I have not had any complaints.
Will the Minister cause inquiries to be made into the circumstances surrounding this business?
Mr. Boland
I shall. I am not aware that there are any complaints.
If the Minister makes inquiries of an exhaustive character, that will satisfy me. Perhaps he will be kind enough to let me know the result of his inquiries, or the opinion that he may form as a result of his investigations?
Mr. Boland
I shall make all the inquiries I can in the matter and I will communicate with the Deputy.