Sinn Féin spokesperson on Finance Pearse Doherty TD has called on all parties to work together and support his legislation to cap the interest rates charged by moneylenders. The legislation will be considered by the Finance Committee in January 2021.
At present, moneylenders are permitted to charge extortionate interest rates with APR of up to 187% trapping borrowers who are least able to pay into a cycle of unsustainable debt.
Speaking today at Dáil Leaders’ Questions, Teachta Doherty said:
“For many, Christmas can be a worrying time.
“St Vincent de Paul have described this year’s Annual Appeal as one of the most difficult in their history.