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Ireland: lending & credit regulation

Regulated

Ireland retail credit & servicing regulated under 2022 Act; Central Bank oversight

Lead regulator:
Central Bank of Ireland
Key law:
Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Act 2022
Last updated:
2026-07-12

The Central Bank of Ireland regulates retail credit and credit servicing activities under the Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Act 2022. This regime extends authorization requirements to Retail Credit Firms and Credit Servicing Firms, covering hire purchase and buy now pay later agreements. The Consumer Protection Code 2012 has been amended to include these entities, ensuring strict adherence to conduct standards. Recent updates also implement EU regulations regarding credit servicers and purchasers.

Who regulates

  • Central Bank of Ireland

    Primary supervisor for retail credit firms, credit servicing firms, and credit purchasers; enforces Consumer Protection Code and SME lending codes.

    [1][2][3]

Core laws & rules

  • Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Act 2022 (2022)

    Establishes the regulatory framework for Retail Credit Firms and Credit Servicing Firms, requiring authorization from the Central Bank of Ireland.

    [2][3]

  • Consumer Protection Code 2012 (2012)

    The primary conduct code for regulated entities, amended in 2022 and 2024 to include retail credit and credit servicing firms.

    [1][2]

  • Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Lending to Small and Medium-Sized Enterprises) Regulations 2015 (2015)

    Establishes a code of conduct for regulated entities providing business credit to micro, small, and medium-sized enterprises.

    [4][5]

Licensing & registration

  • Retail Credit Firm Authorization

    Entities providing hire purchase, buy now pay later, or other retail credit agreements must be authorized by the Central Bank of Ireland.

    [3]

  • Credit Servicing Firm Authorization

    Firms servicing credit agreements must be authorized, with the Consumer Protection Code extended to cover their activities.

    [1][3]

Restrictions & warnings

  • Legal and third-party costs cannot be charged to borrowers in mortgage arrears until a court awards them or a settlement is reached.

    [6][7]

  • Regulated entities must adhere to the Code of Conduct on Mortgage Arrears, including limits on unsolicited contact and requirements for fair treatment during loan sales.

    [8][9][10]

  • Business lending to SMEs requires adherence to specific codes of conduct, including pre-contract disclosures, advertising standards, and annual credit reviews.

    [5][11]

Direction of travel

  • The regulatory landscape continues to evolve with the implementation of EU directives on credit servicers and purchasers, further integrating consumer protection standards.

    [1]

  • The Central Bank emphasizes customer-centric cultures and transparent communication, particularly in the context of retail banking consolidation and structural changes.

    [12]

Sources

  1. Addendum to the Consumer Protection Code 2012 - September 2024 · 2024-09-12
  2. Addendum to the Consumer Protection Code 2012 - May 2022 · 2022-05-10
  3. Notice of Intention - Upcoming changes following enactment of the Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill · 2022-03-28
  4. Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Lending to Small and Medium-Sized Enterprises) Regulations 2015 · 2018-01-25
  5. Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Lending to Small and Medium-Sized Enterprises) Regulations 2015 · 2015-12-18
  6. Central Bank of Ireland Letter on Charging Legal and Third Party Costs to Mortgage Arrears Borrowers · 2019-10-23
  7. Central Bank of Ireland Letter on Charging Legal and Third Party Costs to Mortgage Borrowers in Arrears · 2019-10-23
  8. December 2012 Clarifications on the Code of Conduct on Mortgage Arrears · 2013-01-07
  9. Central Bank of Ireland expectations for firms regarding sales, securitisations, purchases and transfers of residential mortgage loans · 2019-08-21
  10. Report on the Effectiveness of the CCMA in the context of the Sale of Loans by Regulated Lenders · 2018-11-12
  11. Code of Conduct for Business Lending to Small and Medium Enterprises 2012 · 2011-11-03
  12. Consumer Protection Expectations in a Changing Retail Banking Landscape 2021 · 2021-06-25

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This guide is compiled automatically from 12 primary-source documents published by Ireland's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-07-12). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.