Funds evading Central Bank regulation by transferring legal title, Pearse Doherty claims

Speaking at Oireachtas committee on Wednesday afternoon Pearse Doherty said vulture funds have moved responsibility to credit servicing firms

Pearse Doherty, Sinn Féin finance spokesman, highlighted that vulture funds have found a way to manipulate 2019 legislation. Picture: Fergal Phillips

Sinn Féin finance spokesman Pearse Doherty has claimed vulture funds have managed to circumvent the regulatory system by transferring the legal title on loans to other entities.

Speaking at Oireachtas committee on Wednesday afternoon, Doherty said he had been told of instances where so-called vulture funds, which bought hundreds of thousands of mortgages, had managed to avoid legislation that came into effect in 2019.

Doherty said the situation persisted despite the Consumer Protection Act 2018 ...