Tuesday, 19 February 2019

Ceisteanna (145)

Pearse Doherty


145. Deputy Pearse Doherty asked the Minister for Finance further to Parliamentary Question No. 75 of 4 October 2018, if there have been changes in the regulatory status of the company; if the Central Bank has responded to correspondence indicating that it will regulate this type of lending activity; and if he will make a statement on the matter. [7736/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

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.