Dáil Éireann Debate, Tuesday - 20 January 2026
406. Deputy Mark Wall asked the Tánaiste and Minister for Finance if a loan organisation was correct in its actions in respect of a person in County Kildare (details supplied); and if he will make a statement on the matter. [4325/26]
View answerAs Minister for Finance, it would not be appropriate for me to comment on, or intervene in, individual cases.
In relation to the general points raised, an entity which acquires the legal rights of a creditor under a credit contract with a consumer, or which services such an agreement, is within the regulatory remit of the Central Bank of Ireland.
Accordingly, the Central Bank's consumer protection codes, including the Code of Conduct on Mortgage Arrears (CCMA), continue to apply.
Regulated entities must explore all of the options for Alternative Repayment Arrangements (ARA) in order to determine which ARA, if any, is appropriate and sustainable for a distressed borrower’s individual circumstances.
The CCMA also provides for an appeals mechanism, including where the entity declines to offer an ARA, where the borrower is not willing to enter into the ARA offered, or where the entity classifies the borrower as not co-operating.
Appeals can ultimately be referred to the Financial Services and Pensions Ombudsman (FSPO).
If a consumer is not satisfied with the way a regulated firm is dealing with them, or if the firm is not complying with regulatory requirements, the consumer should make a formal complaint directly to the regulated firm.
If the consumer remains unsatisfied, they can then refer the complaint to the FSPO.
