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The Central Bank's director of consumer protection, Bernard Sheridan, found himself in front of the joint Oireachtas Committee on Finance, Public Expenditure and Reform last week to discuss the licensed moneylending sector and its regulation.

2nd February, 2014

Spotlight on money lenders

The Central Bank's director of consumer protection, Bernard Sheridan, found himself in front of the joint Oireachtas Committee on Finance, Public Expenditure and Reform last week to discuss the licensed moneylending sector and its regulation.

The significant interest rates charged by licensed moneylenders, rising to more than 285 per cent in some instances, has raised many questions for the Central Bank. Forty such firms operate in the Irish market, with Sheridan...

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