16 MFómh 2014, 16:18
Representatives from the Free Legal Advice Centres will appear before the Oireachtas Joint Committee on Public Service Oversight and Petitions tomorrow afternoon to outline a report on the perceived imbalance in the power relationship between lenders and borrowers.
16 September 2014
FLAC Director General Noeline Blackwell and Senior Policy Analyst Paul Joyce will outline their report Redressing the Imbalance to the Committee.
FLAC is an independent human rights organisation which seeks to promote equal access to justice and eliminate discrimination in all its forms. Its work involves the provision of information and advice to the public, carrying out research and public advocacy.
Chairman of the Committee Pádraig Mac Lochlainn TD says: “We look forward to engaging with FLAC on an in-depth study which analyses the legal protections offered by the State to those availing of credit from banks, hire-purchase companies, credit unions and other finance suppliers. The study highlights major flaws in the legal architecture for the protection of consumers of financial services in Ireland, and in particular for those using consumer credit and ancillary services.
“Before the Summer recess, the Committee examined a petition relating to secrecy provisions of the Central Bank of Ireland with petitioner Alan Jackman. In certain respects, this ties into the FLAC observations around the relative weaker position in which borrowers find themselves in negotiating with lenders. There is also wider concern that the changes introduced by Government in the architecture of Financial Regulation in the aftermath of the financial crisis has not followed through to include updated legislation for the Financial Services Ombudsman.”
“Behind the alarming statistics of those in arrears on mortgages and other financial products are real people, struggling to make ends meet for their families, so it is an issue of profound concern to our Committee. The report points to the confusion and powerlessness faced by borrowers in arrears as they attempt to work through solutions with their lender. Tomorrow’s meeting will provide an opportunity for our Committee to examine how policy can be enhanced to provide for a more robust consumer protection system that would eliminate the unfair anomalies in this area.”
The meeting takes place tomorrow afternoon Wednesday 17 September in Committee Room 3, LH 2000 at 4 pm. Public proceedings can be viewed online here.
Committee proceedings can also be viewed on the move, through the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.
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Committee Membership
Deputies:
Richard Boyd-Barrett, Independent
Noel Harrington, Fine Gael
Michael Healy-Rae, Independent
Seamus Kirk, Fianna Fáil
Michael P. Kitt, Fianna Fáil
Pádraig MacLochlainn (Chairman), Sinn Fein
Helen McEntee, Fine Gael
Michelle Mulherin, Fine Gael
Derek Nolan (Vice-Chair), Labour
Patrick O'Donovan, Fine Gael
Aengus Ó Snodaigh, Sinn Féin
Sean Kenny, Labour
John Halligan, Independent
Jack Wall, Labour
Senators:
Trevor Ó Clochartaigh, Sinn Féin
Jimmy Harte, Labour
Tony Mulcahy, Fine Gael
Susan O’Keeffe, Labour
Ned O'Sullivan, Fianna Fáil