Dáil Éireann Debate, Wednesday - 12 December 2018
82. Deputy Thomas P. Broughan asked the Minister for Finance if he has contacted the Governor of the Central Bank regarding its policy on the granting of moneylending licences; and if he will make a statement on the matter. [52475/18]
Amharc ar fhreagraThe Central Bank is independent in the performance of its functions in relation to the granting of licences for regulated activities and it would not be appropriate for me to contact them in relation to the granting of a licence to a specific applicant.
The Register of Moneylenders, which is available to the public on the Central Bank’s website, sets out details such as the maximum APR, maximum cost of credit and the collection charge (if any) of the loans that can be offered by individual moneylenders.
Earlier this year, the Central Bank engaged in a public consultation process in relation to a review of the Consumer Protection Code for Licensed Moneylenders and I understand that the Bank expects to finalise and publish Regulations under Section 48 of the Central Bank (Supervision and Enforcement) Act 2013 to replace this Code in 2019.
