The Financial Regulator has asked the Government to change legislation so that it can regulate mortgage lenders who target people with poor credit histories.
At the launch of the regulator's annual report, chief executive Pat Neary also said that all lenders offering equity release products would be regulated.
The regulator has also raised concerns about levels of competition in the credit card and motor insurance industries.
In recent years a series of new home loans companies called sub-prime lenders have entered the Irish market, targeting people who have defaulted on loans in the past and have difficulties finding mortgages with the main lenders.
Sub-prime lenders offer such individuals home loans - but at higher than normal interest rates. One of those lenders has been responsible for a higher level of repossessions than normal. These lenders and all providers of equity release products will now be regulated.
The regulator has also highlighted lack of competition among credit card companies, saying that almost 80% of the market is controlled by AIB, Bank of Ireland or MBNA.
The regulator is also concerned about the fact that card interest rates range from 9% up to 18%, and half of users do not know what rate they are paying.
It also said the total amount which Irish consumers have been overcharged by financial institutions since the 1990s has been €49m.
This figure includes previously disclosed overcharging by AIB, Bank of Ireland and National Irish Bank.
