TDs may quiz lending agencies as 360,000 borrow from moneylenders

Moneylending agencies could be invited to appear before an Oireachtas committee in the coming weeks after figures showed 360,000 people have borrowed from licensed moneylenders.

The figures, which will be elaborated on tomorrow by the Central Bank when it launches a report on the issue, indicates that the number of people taking out high-cost loans with money lending agencies has grown by 20% since 2007.

That is despite the number of licensed moneylenders falling from 47 to 40 in the same period.