Central Bank Notice of Intention regarding upcoming changes following enactment of the Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill 2021
On 29 March 2022, the Central Bank of Ireland (the “Central Bank”) published a Notice of IntentionOpens in new window regarding upcoming changes which will take effect once the Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) BillOpens in new window 2021 (the “Bill”) is enacted.
The Bill, once enacted, will implement the key recommendation in the “Tutty Report” published in November 2018, to extend relevant provisions of the Central Bank’s Consumer Protection Code (the “CPC”) to providers of hire purchase and consumer hire agreements to consumers.
In order to achieve this…