Requirements and Guidance for Moneylenders 

The Regulatory requirements which moneylenders must comply with in the area of consumer protection are set out below:

 Consumer Protection Code for Licensed Moneylenders

The General Principles of the Consumer Protection Code for Licensed Moneylenders came into effect on 1 January 2009 and the remaining provisions (i.e. Chapters 2 and 3) came into effect on 30 September 2009.

A new Fitness and Probity Regime came into effect on 1 December 2011. The prior approval of the Central Bank of Ireland is required before an individual can be appointed to a Pre-Approval Controlled Function (PCF). The individual must complete an online Individual Questionnaire which is endorsed by the proposing entity and then submitted electronically to the Central Bank for assessment.

Industry letter issued to all Licensed Moneylenders on 1 March 2013, following a themed inspection of the industry in relation to APRs and costs of credit.