SF 'No Consent, No Sale' bill could have 'severe unintended consequences', says Central Bank

A senior official at the Central Bank has stated that the Sinn Féin bill giving mortgage holders a veto on their loans being sold to so-called ‘vulture funds’ “will have potentially severe unintended consequences”.

In a letter to the Dept of Finance, Director of Consumer Protection at the Central Bank, Gráinne McEvoy stated that it is the Central Bank’s view that the ‘No Consent, No Sale' bill “will not offer new or existing borrowers any additional consumer protection and instead has the potential to have a significant negative impact for all borrowers”.