Bank property auctions and consumer protection
Mattie McGrath describes distress at an auction of properties, alleging banks and purchasers are worsening hardship for homeowners and businesses, and asks for stronger banking and consumer protections. The Tánaiste says the Central Bank enforcement Bill will provide an opportunity to address such issues and defends the Government’s banking reforms.
I call Deputy Mattie McGrath and I ask him to be brief as we are running out of time.
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I will be as brief as I can and before the Tánaiste tells me I fell for it too, the late Brian Lenihan was lied to and I did vote for it. The Labour Party promised it would burn the bondholders and it did not.
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I have come from a sad event at the Shelbourne Hotel this morning. At the Allsop auction 121 properties were put up for sale by an English group of auctioneers. There is supposed to be a code of practice for the Central Bank. Under the Central Bank (Consolidation) Bill and consumer protection law when will the Government deal with the banks? A total of 85% of the properties for sale this morning had no goodwill and in many cases they did not have proper title. Deputies Michael Healy-Rae and Tom Fleming and I went up-----
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-----and saw for ourselves what was going on. The Tánaiste and his advisers should see what is going on with regard to ordinary people's houses, businesses and family homes. Misery is being perpetrated by the banks. The Tánaiste heaped opprobrium when on this side of the House. I ask him to open his eyes and see what is going on with the banks. It is appropriate the book is in red because there is blood money and Cromwell is back. I could quote Charles Stewart Parnell-----
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I will not do so but I could. I ask the Tánaiste please to deal with the banks so they do not create misery for the ordinary people of Ireland on an hourly basis.
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The Government will not even phone a friend.
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I would like an answer to my question.
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I asked about the Central Bank (Consolidation) Bill and consumer protection law. The Tánaiste was not as quiet when he was over here. Hellfire was going to be hotter than the bondholders' fire. I would like an answer to my question please.
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Under the Central Bank (Consolidation) Bill will the Government deal with the code of practice for the bankers and chancers who are creating misery for people? Under consumer protection legislation will ordinary householders be protected?
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Yesterday we had an eviction Bill.
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-----the Central Bank (Supervision and Enforcement) Bill. Deputy McGrath will have an opportunity to discuss the matter. When the Bill has completed its passage-----
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The Government has introduced more legislation in the past two years to reform the-----
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It is all toothless. The banks have a veto.
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The Government has introduced more legislation on reforming our banking system and improving regulation in the past two years than was done during the previous 14 years.
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That is simply not true. On a point of order what the Tánaiste has just said is not true.
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I could call it something else but I will not do so.
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I will not. It is not true and it is an insult to say it. We did not come down in the last shower.