Central Bank legislation
Bernard J. Durkan urges urgent publication of promised Central Bank legislation to curb lenders’ repossession practices and protect mortgage payers. The Taoiseach says the Bill is still being worked on by the Department of Finance and no publication date is available.
The Central Bank (consolidation) Bill is promised legislation and should be brought before the House as a matter of urgency with a view to introducing a code of conduct along the lines of that described by Deputy Pearse Doherty a few minutes ago in order to control the activities of primary and secondary lenders who are now using the situation of increased equity to repossess properties and dispossess people who have been making mortgage payments, within their reach, over the past five or six years. Such people are now being treated badly by the lending institutions. Can the aforementioned Bill be brought before the House as a matter of urgency, in order to combat this activity?
