222. Deputy Michael McCarthy asked the Minister for Finance if he will provide an update on draft legislation relating to when a regulated financial entity sells its loan book to an unregulated entity; his views on concerns raised by the Central Bank of Ireland regarding the draft legislation only applying to the credit servicing firms, to which management of these mortgages is outsourced, rather than the vulture funds that own them and control key decisions, such as interest rates and the treatment of borrowers in arrears; and if he will make a statement on the matter. [6936/15]

Summary

222. Deputy Michael McCarthy asked the Minister for Finance if he will provide an update on draft legislation relating to when a regulated financial entity sells its loan book to an unregulated entity; his views on concerns raised by the Central Bank of Ireland regarding the draft legislation only applying to the credit servicing firms, to which management of these mortgages is outsourced, rather than the vulture funds that own them and control key decisions, such as interest rates and the treatment of borrowers in arrears; and if he will make a statement on the matter. [6936/15]

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• Proposed Legislation

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