Carol Nolan urges stronger laws to curb bank repossession abuses
Carol Nolan spoke on 12 Nov 2020 about the need to strengthen security and repossession law. She said the 2004 Security Act is too weak and voiced support for the bill while calling for stronger regulation of banks and security personnel.
Support for stronger legislation
She welcomed the bill and said it responds to concerns raised in a meeting with the Private Security Association, which she attended with Matty McGrath and Deputy Michael Collins. Nolan argued the current Security Act from 2004 is far too weak and must be strengthened to protect people in repossession cases and where court orders apply.
Evidence of alleged abuses by security personnel and banks
She described incidents she called scandalous, including a sick widow whose land was ploughed by men she described as acting in the interests of a bank and reports of people being dragged from their homes. Nolan also recounted a call from a distressed mortgage holder who said he was repeatedly phoned by bank staff, had an arrangement reneged upon, and then received a letter for an amount 150 euro higher than agreed.
Calls for regulation and vetting
Nolan insisted on regulation and vetting of all security personnel used by banks and said security professionals must be subject to the Private Security Authority. She said professional standards for security staff are necessary alongside the legislative changes.
Prevention, pandemic impact and fairness
She urged preventative measures to stop harassment and criticised banks profiteering on mortgage breaks during the pandemic. Nolan warned of more repossessions because of the pandemic and called for laws to be made with fairness, equality and respect for homeowners.
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Ger mā a gud caan Córla, I welcome this bill here tonight and indeed as well as Matty McGrath and Deputy Michael Collins we met the Private Security Association and we dealt with a number of issues but what occurred at that meeting was a realisation that the current legislation from 2004 the Security Act is far too weak and needs to be strengthened and I support what this bill is trying to do here tonight because that's exactly what we have to do in order to protect people in repossession cases or where there's court orders I mean what has happened in this state is absolutely scandalous I'm aware of one woman a widow who was very sick who had her land ploughed up by thugs and they were acting in the interests of a bank so I mean in this day and age it's it's beyond belief that this type of activity is happening and that we're witnessing people being dragged from their homes and whatnot but in addition to strengthening this bill here tonight and strengthening the legislation to ensure that there's regulation and vetting of all security personnel used by banks we need to make sure that banks are regulated there needs to be protection from homeowner home owners only last week I got a call from a distressed mortgage holder to tell me that he made an arrangement with a bank after six or seven different people from the bank phoned him it was verging on harassment he made an arrangement and then they reneged on that particular arrangement and sent him a letter for an amount that was 150 euro higher than what was agreed so people are still being subjected to harassment so I feel that we need to take preventative measures as well as the measures in this legislation which I wholeheartedly welcome we have to ensure that people are treated fairly as well as the same and age and age and I mean there should be and I mean there should be there should be there should be security professionals who are professional and who are subjected to being regulated by the security of the private security authority and I feel that yes going forward and that will be a benefit but also as I said the preventative measures need to be taken as well and I would just ask banks profiteering on the mortgage breaks that we had during this pandemic and then coming on heavy-handed with people. We are going to see, unfortunately, more repossessions because of this pandemic, but I feel that people need to be treated with respect and with fairness. We are all responsible for the laws that are enacted in this country, so we need to make sure that they are done for our people and that they are done in terms of fairness and equality and respect for all on this land. Go raibh maigat.
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