SVP: Central Bank must reveal scale of moneylending crisis

The Central Bank has been urged to reveal the true depth of Ireland’s money-lending crisis, following anecdotal evidence of an “alarming” rise in the high-risk practice.

The call has been made by the Society of St Vincent de Paul, which said poverty-stricken families are increasingly offered loans they have no hope of repaying.

Writing in the latest edition of the St Vincent de Paul’s magazine The Bulletin, Brendan Hennessy of the charity’s social justice and policy team said there is growing anecdotal evidence that desperate households are turning to moneylenders for short-term fixes.