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TD’s will be powerless to change new mortgage lending rules

TDs will have NO power to change the Central Bank's new rules on mortgage lending.

The Dail's been told that the new regulations will be legally binding as soon as they're finalised by the Central Bank.

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Many banks are already applying the rules ahead of their official introduction within the next few weeks.

Finance Minister Michael Noonan says he has no role in setting the rules, and the Dail won't have the power to change them

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