Regulatory AlertsCentral Bank of Ireland Letter on the 2013 Revised Code of Conduct on Mortgage Arrears
The Central Bank of Ireland issued a revised Code of Conduct on Mortgage Arrears (CCMA) effective 1 July 2013 to strengthen consumer protections and ensure the timely resolution of mortgage arrears. The letter mandates that lenders implement necessary system and procedural changes by the effective date, with full compliance monitoring continuing through December 2013. Regulated entities are required to submit detailed implementation plans by 31 July 2013, demonstrating senior management oversight and adherence to specific provisions regarding legal proceedings, tracker mortgages, and borrower contact.
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