Sinn Fein has moved legislation to regulate vulture funds.
The billl was moved by the party’s finance spokesperson Donegal TD Pearse Doherty in the Dail yesterday.
It will regulate vulture funds for the first time and the party hopes it will get support in light of the number of distressed borrowers they claim are impacted by the lack of regulation in this area.
Sligo Leitrim TD Martin Kenny also spoke on the issue in the Dail saying in Leitrim there are many farmers whose loans have been sold to these vulture funds and they cannot do a deal to resolve the debt.
Speaking to Ocean FM News today, Pearse Doherty said they have put forward the legislation after speaking to many of these communities about their concerns on debt:
