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Fianna Fáil attempting to scupper vulture fund legislation – Pearse Doherty TD

9 July, 2019 - by Pearse Doherty TD

Sinn Féin Finance spokesperson Pearse Doherty TD has accused Fianna Fáil of attempting to scupper his ‘No Consent, No Sale’ Bill which stops banks selling mortgages to vulture funds without the consent of the mortgage holder.

Teachta Doherty was speaking today after Fianna Fáil’s Michael McGrath proposed stalling the bill for independent analysis.

Speaking after the committee meeting Teachta Doherty said;

“Fine Gael have been very clear that they do not support this legislation and will do whatever it can to prevent its passage through the Dáil.

“However, given Fianna Fáil’s support for the legislation at second stage in the Dáil, I had hoped that they would continue that support at committee stage.

“The legal advice did not say that the legislation is unconstitutional and the preliminary view of the Bills Office was that there is no need for a money message.

“Unfortunately Fianna Fáil’s Michael McGrath has today proposed sending the bill for independent analysis which would have the effect of stalling it.  This is clearly an attempt by Fianna Fáil to scupper the legislation entirely.

“I have no problem with independent analysis of the legislation but it should not be allowed to stall the progress of the bill. Both should happen in parallel.

“This issue is too important and there are too many people who desperately need this legislation to pass into law.

“We seen just last week how Ulster Bank off-loaded some 3200 family home loans to vulture funds.

“Thousands more families face the same fate unless and until this legislation is passed and Fianna Fáil’s latest manoeuvre will delay that significantly.”

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