Tipperary Senator Denis Landy has spoken out against what he describes as some unscrupulous money lenders.
He's concerned that there is a total lack of restriction on moneylenders in this country, a view he says is shared by the Society of St Vincent de Paul.
Moneylenders are regulated by the Central Bank of Ireland and are provided with licences however Denis Landy feels they are using the current opportunity to squeeze money out of hard-pressed families.
For example, a loan of €1,400 over 52 weeks is repaid to the tune of €2,184.
The Carrick on Suir based politician says these loans must be income based in order to ensure that the borrower can indeed make the repayments.
