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Articles by Olive McCarthy
Why using AI for financial advice is a double-edged sword
Analysis: There are some clear advantages for consumers in using AI to support personal financial decision-making, but it also comes with clear limitations Have you ever used AI for financial advice? If so, you are not alone. A recent OECD report highlights the widespread use of AI tools by consumers for advice on financial products, budgeting, credit and investing.
'Cash is here to stay': why cash is king in emergency planning
Analysis: Governments are increasingly advising people to keep cash on hand for emergencies which may severely impair electronic payments systems This article is now available above as a Brainstorm podcast. You can subscribe to the Brainstorm podcast through Apple Podcasts, Stitcher, Spotify or wherever you get your podcasts. Recent reports that Irish households will soon be advised to keep a small sum of cash in their homes in the event of emergencies come as no surprise.
How well do you understand your own money?
Analysis: Data on Ireland's financial literacy shows basic knowledge around money is strong, but the depth is not, especially amongst young adults and women Have you ever wondered where your money goes at the end of the month, or how financially secure you might be 10 or 20 years from now? For something that shapes so much of daily life, money is something most of us are left to figure out on our own.
Why high cost credit loans remain a serious issue in Ireland
Analysis: There are around 288,000 high cost customer loans in Ireland which are subject to extremely high interest rates In 2022, the Consumer Credit (Amendment) Act was enacted to place a cap on the interest rate that can be charged on moneylender loans. In simple interest terms, this resulted in a cap of 1% loan interest per week, to a maximum charge of 48% per annum. This translates into a maximum allowable APR of 152.35%.
'Cash is here to stay': why cash is king in emergency planning
The ECB has highlighted a growing recognition among central banks, finance ministries and civil protection agencies that cash is a critical component of 'national crisis preparedness'. Photo: Getty Images Analysis: Governments are increasingly advising people to keep cash on hand for emergencies which may severely impair electronic payments systems Recent reports that Irish households will soon be advised to keep a small sum of cash in their homes in the event of emergencies come as no surprise.
'Cash is here to stay': why cash is king in emergency planning
The ECB has highlighted a growing recognition among central banks, finance ministries and civil protection agencies that cash is a critical component of 'national crisis preparedness'. Photo: Getty Images Analysis: Governments are increasingly advising people to keep cash on hand for emergencies which may severely impair electronic payments systems Recent reports that Irish households will soon be advised to keep a small sum of cash in their homes in the event of emergencies come as no surprise.
How storms, cyberattacks and wars show cash is still king
Updated / Tuesday, 15 Apr 2025 07:08 'Measures to protect access to, and acceptance of, cash are necessary to preserve the circulation of cash in an increasingly uncertain global environment.' Photo: Getty Images Analysis: Recent events have highlighted the vulnerability of electronic transactions, leaving cash as the only reliable method of payment So why then is the Irish government legislating to protect the availability of cash?
Why a cashless society may never emerge in Ireland
Analysis: despite the 'cashless creep' in many sectors, there have been policy moves to ensure businesses must still accept cash payments We don’t have to look too far to find what might be termed a ‘cashless creep’ in other services, such as some short-term carparks, festivals, laundrettes in garage forecourts and some public toilets. Some services carry a ‘cash premium’, meaning it is sometimes more expensive to pay with cash.
How easy is it to change my divorce lawyer?
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5 issues around cash and ATM machines which new law will address
Analysis: Maintaining choice in how Irish consumers can pay for goods and services is fundamental to an inclusive society Recent proposals for access to cash legislation aim to ensure the continuation of reasonable access to cash for all Irish citizens who wish to, or have a need to, use cash. While as many as 94% of us say we use it, cash is seen as particularly important for the inclusion of vulnerable consumers.
Will big money kill off community ownership in League of Ireland?
Analysis: With just six of the 20 league clubs now owned by supporters, fears are growing of an 'arms race' in private spending By Barry Kearney and Olive McCarthy, UCC Despite a turbulent history of poor governance and financial instability at the hands of wealthy owners, there has been a recent resurgence in private, millionaire ownership in the League of Ireland (LOI).
Why a cashless society may never emerge in Ireland
Analysis: despite the 'cashless creep' in many sectors, there have been policy moves to ensure businesses must still accept cash payments The recent removal, or attempted removal, of the choice to pay in cash by some service providers, has led to increased awareness of the importance of retaining access to and acceptance of cash for an inclusive society.
Will big money kill off community ownership in League of Ireland?
Analysis: With just six of the 20 league clubs now owned by supporters, fears are growing of an 'arms race' in private spending By Barry Kearney and Olive McCarthy, UCC Despite a turbulent history of poor governance and financial instability at the hands of wealthy owners, there has been a recent resurgence in private, millionaire ownership in the League of Ireland (LOI).
Would you take financial advice from an influencer on TikTok?
Analysis: the growth in finfluencers providing money advice on social media highlights the importance of regulation to protect consumers Recent research by the Banking and Payments Federation Ireland suggests that 23% of people in Ireland under the age of 35 use social media when looking for information about making future investments.
Emergency Alert - Taylor Walton
On Sunday 23 April 2023, the government will be testing their new emergency alert systems and everybody will get an alert. The alarm will go off even if it is on silent with notifications disabled. That does not sound like much of a problem at first glance; people are always getting notifications on their mobile phone, unless you are a victim of domestic abuse and you have hidden a mobile device in the event of an emergency.
How do we fix Ireland's food waste problem?
Analysis: 770,300 tonnes of food are wasted in Ireland annually, but we can take steps to prevent it By Stephanie Marwood and Olive McCarthy, UCC Reducing food waste has become an integral part of environmental sustainability, a challenge the Irish Government has risen to in its 2030 target to reduce food waste across all sectors by 50%. This is an ambitious target given recent estimations that 770,300 tonnes of food are wasted in Ireland annually.
Why banks need to maintain cash services for customers
Opinion: we are much further removed from becoming a cashless society than some might like to think This article is now available above as a Brainstorm podcast. You can subscribe to the Brainstorm podcast via Apple Podcasts, Spotify, Stitcher or wherever you get your podcasts. The recent announcement that AIB was planning to withdraw cash services from another 70 branches throughout the country drew widespread condemnation from consumers, businesses, charities and public representatives.
All you need to know about 'buy now, pay later' services
Opinion: while the benefits of these schemes are widely promoted, there are concerns about this approach to credit, debt and loans In the fast approaching Christmas shopping frenzy, consumers may find themselves offered interest-free payment options at the point of purchase for various goods and services.
Why retrofiting homes will be difficult for low income households
Opinion: are we doing enough to support low income households in the transition to energy efficiency? By Olive McCarthy & Ashley Amato, UCC Budget 2022 committed €202 million in carbon tax revenue to fund the Sustainable Energy Authority of Ireland (SEAI) residential and community retrofit schemes. €109 million of this will be used to provide free energy efficiency upgrades to households that experience, or are at risk of experiencing, energy poverty.
Moneylending in Ireland: '€70m in interest payments annually'
Analysis: there are many reasons why people continue to use moneylenders despite exorbitant interest rates By Olive McCarthy and Noreen Byrne, UCC In late 2018, a bill was passed to cap the rate of interest that can be charged by licensed moneylenders in Ireland at 36% APR. This came a mere two weeks after the launch of our report, funded by the Social Finance Foundation and the Central Bank of Ireland, into interest rate restrictions on high cost credit.
Divorce Solicitors in Luton
A divorce or separation can be one of the most difficult experiences that life can throw at us. Let our divorce solicitors in Luton help make this tough period easier for you. At Taylor Walton, we know the emotional impact that divorce and family legal issues can bring if quality legal advice and support is not available from the start.
Divorce Solicitors in Harpenden
Widely experienced in all aspects of divorce and separation. Our team of divorce solicitors in Harpenden share decades of experience in all areas of divorce and separation. No matter how difficult or complex your circumstances are, our acute knowledge of UK family law will help you find a solution for your divorce and subsequent decisions involving financial assets and children. Clear and concise legal advice free of jargon.
Divorce Lawyers in St Albans
Highly knowledgeable in all aspects of divorce & separation. From child custody arrangements and maintenance payments, financial matters such as the division of assets and property, to dealing with sensitive issues such as domestic violence and arranged or forced marriages - our divorce solicitors have seen it all. No matter how complex or multi-faceted your situation may be, our divorce lawyers in St Albans have the experience and knowledge to find a resolution that best suits you.
Family Law Solicitors in Hertfordshire & Luton
'Thank you, especially for the support you showed me during and at the end of my divorce. Knowing I had an outstanding solicitor that guided me through the legal process who gave sound advice, produced outstanding work and conducted himself in a professional manner was a relief. This gave me reassurance that I had you in my corner 100%, ready to come out fighting when I needed help during that difficult time I went through.
Divorce Lawyers in Hertfordshire & Luton
Divorce can be a highly emotional and distressing time in an individual’s life, and without quality legal advice, can often lead to devastating personal and financial impacts on you and your family. Let us help make this difficult period easier for you. At Taylor Walton, we have handpicked some of the most experienced and widely accredited divorce lawyers and family solicitors in Hertfordshire & Luton.
Divorce Lawyers in Hertfordshire & Luton
Divorce can be a highly emotional and distressing time in an individual’s life, and without quality legal advice, can often lead to devastating personal and financial impacts on you and your family. Let us help make this difficult period easier for you. At Taylor Walton, we have handpicked some of the most experienced and widely accredited divorce lawyers and family solicitors in Hertfordshire & Luton.
Family Law Solicitors in Hertfordshire & Luton
'Thank you, especially for the support you showed me during and at the end of my divorce. Knowing I had an outstanding solicitor that guided me through the legal process who gave sound advice, produced outstanding work and conducted himself in a professional manner was a relief. This gave me reassurance that I had you in my corner 100%, ready to come out fighting when I needed help during that difficult time I went through.
Payday loans: clampdown was vital, but credit unions must expand after coronavirus to fill gap Original
The cost of accessing small personal loans can be eye-wateringly high for those who need it most. Take the UK, where a £200 loan from Provident Personal Credit over 13 weeks costs £86 in interest. That’s an equivalent APR of a whopping 1,557.7%. These offers are available even after the caps on payday loans that the UK introduced five years ago. In the months after the reforms, the Financial Conduct Authority (FCA) reported that the number of loans and the overall amount borrowed was down 35%.
Do consumer warnings on financial products work?
Opinion: a range of protections are given to consumers accessing credit and financial products online, but how effective are they? By Olive McCarthy and Noreen Byrne, UCC With evidence of an accelerated move towards online banking during the Covid-19 pandemic, and advancements by fintechs and challenger banks into the personal lending market, consumer protection around digital financial services comes into sharp focus.
PREMIER LEAGUE WITH WILLIAM HILL
Poll: Will you go to a shopping centre this week? UNDER THE GOVERNMENT’S accelerated roadmap to re-open Ireland, shopping centres across the country are permitted to re-open today. While some centres have remained open to allow access to supermarkets and pharmacies, many shops inside remained closed since March.
'We've heard of moneylenders meeting customers at the post office as they collect their social welfare'
A WEEK AGO, the Central Bank unveiled tighter regulations aimed at protecting consumers who avail of high-interest loans from licensed moneylenders. Currently, moneylenders are permitted to charge up to 188% Annual Percentage Rate (APR), rising to 288% when permitted collection charges are included. Could you imagine walking into a bank and being told your loan must be paid back at that rate? Most commonly, licensed moneylenders offer loans at an APR of up to 125% before collection charges.
How are Ireland's credit unions coping with the pandemic?
Updated / Friday, 24 Apr 2020 09:20 Donore Credit Union on Dublin's South Circular Road is Ireland's oldest credit union Opinion: credit unions have put wide-ranging measures in place to support and protect their members Derryman John Hume once remarked, "of all the things I've been doing, it’s the thing I’m proudest of because no movement has done more good for the people of Ireland, north and south, than the credit union movement". It’s not hard to understand his passion for credit unions.
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