Brennan seeks talks with lenders who target lone parents

Social and Family Affairs Minister Seamus Brennan has indicated that he is about to get tough with banks and other institutions that target lone parents with predatory money-lending practices.

A study commissioned by the One Parent Exchange Network (Open) has found that banks are offering unsolicited credit to lone parents on welfare who cannot repay the money.

Open has also raised concerns about the ESB's practice of charging 22.9% interest on hire purchase agreements, which is just below the level at which it would have to register as a money-lender.

Speaking at the launch of the study today, Mr Brennan said he had requested talks with both the Irish Bankers Federation and the ESB to discuss the matter.