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Dáil
‹ Order of Business

Distressed loan book protections

Summary

Bernard Durkan asks about legislation protecting borrowers whose distressed loans are sold to unregulated institutions. The Taoiseach confirms that the Bill’s Second Stage will be taken the following day.

Bernard Durkan Deputy Bernard J. Durkan Fine Gael

Legislation is promised to address the issue of the sale of distressed loan books to unregulated financial institutions. What is the progress of that legislation? Will it come before the House and be passed before the summer recess? If not, would it be possible to issue guidelines, which would at least give homeowner-borrowers similar protection to that received by the same original financial institutions in the banking guarantee?

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Enda Kenny The Taoiseach Fine Gael

Second Stage of the Bill will be taken in the House tomorrow.

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Bernard Durkan Deputy Bernard J. Durkan Fine Gael

I am delighted to hear it.

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That is a tremendous result.

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Enda Kenny The Taoiseach Fine Gael

I do not know whether the Deputy had that information, but I referred to it when I announced the Order of Business. He can take it that the Bill will be discussed tomorrow.

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