'They are going around the country like cowboys' - John McGuinness urges Govt to regulate receivers

The chair of the Oireachtas Finance Committee, John McGuinness, has claimed receivers are going "around the country like cowboys".

A receiver is someone appointed by a bank to collect income from a property to ensure a loan or mortgage is repaid.

However, concerns are being raised about how receivers are regulated in Ireland.

The issue was discussed at the Finance committee earlier, where Mr McGuinness made this appeal to Government officials appearing before it.

The Fianna Fáil TD said: "Well, if you're regulated as an accountant, you must be an okay kind of person, I'd question that too, you know because, we had the accountants during the bank collapse, and they weren't okay kind of people.

"They certainly got their figures wrong, so I'm asking you will you regulate separately the receivers, because they are going around the country like cowboys doing their work."

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