Regulatory Alerts2022-05-10
Addendum to the Consumer Protection Code 2012 - May 2022
The Central Bank of Ireland issued this addendum to amend the Consumer Protection Code 2012 in response to the enactment of the Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Act 2022. The document updates Chapters 1, 2, 5, 9, and 12 to explicitly include hire-purchase, consumer-hire, and buy now pay later agreements within the regulatory scope while refining definitions and advertising warnings. These changes ensure that regulated entities comply with new statutory requirements regarding the suitability and disclosure of these specific credit products.
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