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Bill to scrap 6 year limit on financial complaints passes Committee Stage – Doherty

11 May, 2017 - by Pearse Doherty TD

The Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014, a Private Member’s Bill by Sinn Féin Finance spokesperson Pearse Doherty TD has passed Committee Stage in the Finance Committee today.  The Bill will now return to the full Dáil for Report Stage before going to the Seanad. The main provision of the Bill is to remove the 6 year rule which prevents consumers making complaints against financial institutions.

Deputy Doherty said:

“I am delighted my Bill has passed another hurdle, again with unanimous support.  The core aim of the Bill is to remove the blanket six year ban on consumers making complaints against financial institutions such as banks or insurers.

“This is an urgent for many families especially with the tracker mortgage scandal and the recently revealed possibility of another wave of payment protection insurance schemes being missold. I hope the Bill can pass through the remaining stages as quickly as possible.

“It is provisionally scheduled for the week of the 23rd of May for Report Stage meaning it could be the first opposition Bill to pass the Dáil stages in this term.” 

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