Following the Deputy's question of 4 October last, I wrote to the Central Bank on this matter. The Bank is conducting an examination into this issue from a regulatory and policy perspective but has indicated, based on the information available to date, that an entity operating in such a manner may not require a specific authorisation from the Central Bank.
The Bank is not in a position to comment on its engagement with specific entities. Nonetheless, the Bank acknowledges, regardless of whether or not the entity requires a specific Central Bank authorisation, that the Bank has an overall consumer protection role in relation to the provision of credit and similar type agreements to consumers. I understand that this matter, therefore, is being monitored and kept under review by the Central Bank.