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Does the minister agree with me and my constituents, who believe that loan sharks are the curse of communities and that credit unions should be supported as much as possible?
Before ACRE gives advice, it asks whoever is applying for a licence to provide it with risk assessment information.Several people to whom I spoke and who submitted evidence to me during my inquiries expressed real concerns about the robustness of the risk assessment process.
However, I draw to members' attention the Subordinate Legislation Committee's questions to the Executive about the regulations, which were answered. That committee expressed concern that there was slight doubt about whether the instrument was intra vires.