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RTÉ Primetime shows shocking failure of financial regulation is continuing under Fine Gael and Labour - Pearse Doherty TD

5 February, 2015 - by Pearse Doherty TD


Sinn Féin Finance spokesperson Pearse Doherty TD has said this evening’s Primetime Special on RTÉ has shown the shocking failure of financial regulation from the Fianna Fáil years which is continuing today under Fine Gael and Labour.

Deputy Doherty said this government is continuing to allow the sale of loan books to unregulated companies.

He said;

“This evening’s Primetime programme on RTÉ highlighted the shocking failure of regulation through the Fianna Fáil years which is continuing today under Fine Gael and Labour.

“The programme showed lenders charging exorbitant interest rates and the fact that the Ombudsman was and remains toothless.

“These are both issues that Sinn Féin has attempted to tackle through legislation but unfortunately the government has voted down our legislation on both occasions.

“The reality is that this government is still permitting the sale of loan books to unregulated companies. 

“And there are major doubts if the current legislation will make any difference.

“The Department of Finance has changed its bill significantly after the consultation process which is worrying.”

ENDS

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