Saturday June 6, 2020

Vulture funds can’t be the only option for bad loans

The outgoing Central Bank boss Philip Lane recently derided the latest plan to curb the power of vulture funds in this country. But an alternative to them needs to be found soon

Ian Guider

Markets Editor

@ianguider
31st March, 2019
Kevin ‘Boxer’ Moran, Independence Alliance Minister of State for the Office of Public Works and Flood Relief RollingNews.ie

In his last appearance in front of the Oireachtas finance committee before heading off to Frankfurt for greater things, Central Bank governor Philip Lane pulled no punches about the effects that a bill proposed by Sinn Féin TD Pearse Doherty would have on the mortgage market.

The “no consent, no sale” bill, which is currently going through the Dáil, would restrict the activity of vulture funds. Lane told the committee that not only...

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