Dáil Question on the regulation of savings clubs
6th April 2013 - Alan Farrell TD
To ask the Minister for Finance if he has any remit to protect consumers who contribute to savings clubs over a period of 12 months in cases where the company may go into liquidation; and if he will make a statement on the matter.
Reply from Minister Michael Noonan T.D.
Neither I nor the Central Bank have any role in relation to the supervision of savings clubs. However, I urge consumers to exercise caution when contributing to such clubs over a yearly period.
The Deputy may wish to draw his concerns to the attention of the National Consumer Agency. The Agency has responsibility in the area of consumer education.
Alan Farrell TD
Dublin FingalAlan Farrell is the Chairperson of the Fine Gael Parliamentary Party. He is also the Fine Gael Dáil spokesperson on…
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