Sunday 21 January 2018

Government lets 'teens' call all the shots

We need to create a personal insolvency regime that gives people a fair deal and allows them to get back on their feet, writes Niall Collins

The mountain of debt facing homeowners across the country is a deeply personal crisis for those families who are struggling to keep things together in tough times and a national crisis that is dragging the economy down.

But instead of a Bill that gives pressured homeowners a fair chance to come to terms with their bank, the Government has given the "teenagers" -- as Central Bank Director Fiona Muldoon called them last week -- all the cards. With no independent arbitrator or appeals mechanism, the Government has created a bankers' veto on progress in tackling debt. Crocodile tears by the Banking Federation over the Bill masks the fact that the Government has not loosened their grip on homeowners.

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

Sign In

Promoted Links

Today's news headlines, directly to your inbox every morning.

Don't Miss