Michael McGrath to use legislation advancing through Dáil to tackle Ombudsman loophole

The finance minister said he was also looking at claims that vulture funds were circumventing legislation by transferring legal title

The finance minister has asked his officials to engage ‘as a matter of priority’ with the Ombudsman and the Central Bank. Picture: Fergal Phillips

Michael McGrath intends to use legislation currently advancing through the Dáil to fix a loophole that has left thousands of mortgage holders without access to the ombudsman.

The finance minister said in a statement that if a legislative amendment was required he would use the Financial Services and Pensions Ombudsman (Amendment) Bill 2023, which faced a second stage debate last week.

This bill was introduced to ensure that the Financial Services and Pensions Ombudsman (FSPO) ...