Regulatory Alerts2019-03-21
Central Bank of Ireland Letter on CCMA Information Obligations
The Central Bank of Ireland issued this letter to clarify its expectations for regulated firms regarding information disclosure to borrowers in mortgage arrears under the Code of Conduct on Mortgage Arrears. Firms are required to provide borrowers with a copy of their case assessment and detailed reasons why any considered but unoffered alternative repayment arrangements are deemed inappropriate or unsustainable. This requirement aims to enhance transparency, help borrowers understand their assessment, and enable them to make informed decisions regarding internal appeals processes.
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