Fianna Fáil is demanding a crackdown on the activities of moneylenders.

The party says its new laws would force for greater scrutiny and make sure lenders were assessing the capacity of people to repay.

Under their plans the 43 licensed moneylenders would be required to look more closely at the capacity of people to repay.

The Seanad discussed the Criminal Justice (Unlicensed Money-Lending) Bill in May. It aims to tackle increased prevalence of illegal money-lending and protect victims from loan sharks.

Sligo Senator Marc Mac Sharry said "People who are struggling to make ends meet are becoming more and more susceptible to the quick cash offered by an unlicensed money-lender. This actually makes matters worse for them as they have to pay back the loans with large interest rates, many fall into unmanageable debt".

"This bill would prohibit unlicensed money-lenders from subjecting their victims to harassment. It would allow the powers of the courts to be strengthened in this area. If a court does not find someone guilty of illegal money lending, the judge could still prohibit the accused from making any contact with the alleged victim" he added.

Senator Mac Sharry concluded "The scourge of illegal money lending and the criminality associated with it is holding communities to ransom. The measures in this bill will provide additional protections to victims seeking justice".

Finance spokesman Michael McGrath admits unlicensed lenders remains a big problem too that would not be addressed by their legislation.

He says the Central Bank needs to be more open about the operators licensed here.