Credit Unions being looked atat
THE Financial Secretary to the Treasury Mark Hoban says the regulatory position of Credit Unions in Northern Ireland is being looked at in the context of his current work on bank regulation.
Foyle MP Mark Durkan asked the Minister if the “anomalous position of credit unions in Northern Ireland” - than bigger those in the rest of the UK but unable to offer the same range of services- will be addressed.
Equally Mr Durkan wanted industrial and provident societies in Northern Ireland, which he described as “something of a regulatory black hole,” to be considered.
Mr Hoban replied: “Work is under way to look at the regulatory position of Northern Ireland credit unions.”