Wednesday 28 June 2017

Central Bank must better protect vulnerable borrowers

Assuming that somewhere between 90,000 and 100,000 people were illegally offered refinancing of a loan, you would expect more regulatory and enforcement action by the Central Bank
Assuming that somewhere between 90,000 and 100,000 people were illegally offered refinancing of a loan, you would expect more regulatory and enforcement action by the Central Bank
Charlie Weston

Charlie Weston

The moneylending sector is booming. And it is not just because the near collapse of the banking system, and its rescue by taxpayers, has been a boon to moneylenders.

The financial trauma experienced by large numbers of people has certainly been a gift for these loan sharks.

But it will come as a shock to many that the main reason the customers cite for using them is not because they have been refused credit elsewhere, but because of convenience.

Please sign in or register with Independent.ie for free access to Opinions.

Sign In

Don't Miss