160. Deputy Seán Haughey asked the Minister for Finance his views on whether commercial banks and building societies engaged in reckless lending practices between 2000 and 2008; if his attention has been drawn to the fact that in some cases depositors were contacted by the financial institutions and encouraged to invest their savings in buy-to-let properties using additional loans and that these properties ended up in negative equity; if the imparting of unsolicited and perceived irresponsible advice by the financial institutions has been investigated; the steps that can be taken to assist such depositors and borrowers at this stage; and if he will make a statement on the matter. [29413/19]

Summary

160. Deputy Seán Haughey asked the Minister for Finance his views on whether commercial banks and building societies engaged in reckless lending practices between 2000 and 2008; if his attention has been drawn to the fact that in some cases depositors were contacted by the financial institutions and encouraged to invest their savings in buy-to-let properties using additional loans and that these properties ended up in negative equity; if the imparting of unsolicited and perceived irresponsible advice by the financial institutions has been investigated; the steps that can be taken to assist such depositors and borrowers at this stage; and if he will make a statement on the matter. [29413/19]

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• Financial Services Regulation

  xml · EN · 9 July 2019

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