Dáil Éireann Debate, Wednesday - 15 February 2017
114. Deputy Michael McGrath asked the Minister for Finance if the agents that meet with the customers at their home are generally employed by the moneylender or are self-employed with regard to licensed moneylending; and if he will make a statement on the matter. [7519/17]
Amharc ar fhreagraThe legislation provides that a moneylender can appoint agents to act on its behalf under Section 97(1) of the Consumer Credit Act, 1995 (CCA). However, the licensed moneylender is responsible for ensuring its ongoing compliance with the Consumer Protection Code for Licensed Moneylenders, the European Communities (Consumer Credit Regulations) 2010 and the CCA.
The Central Bank is aware that some licensed moneylenders engage both employed persons and self-employed persons/agents to provide moneylending services on their behalf. Pursuant to the Central Bank's Fitness & Probity Regime all licensed moneylenders are responsible for ensuring that individuals performing Controlled Functions (CFs) meet the Fitness & Probity Standards, both prior to appointment and on an ongoing basis.
