CP158 - Consultation Paper on the Consumer Protection Code

---

Overview

Description

The Central Bank has launched Consultation Paper 158 titled “Consultation Paper on the Consumer Protection Code”.

The Consultation Paper is an opportunity for stakeholders to provide feedback on how the Central Bank is proposing to update the Consumer Protection Code.

The purpose of our review is to deliver an updated and modernised Consumer Protection Code which is centred around firms’ securing customers’ interests. This is the key to delivering positive consumer outcomes.

We are also proposing a targeted package of protections that reflects how consumers are accessing financial services today.

This package includes proposals relating to:

• Digitalisation
• Informing effectively
• Mortgage credit and switching
• Unregulated activities
• Frauds and scams
• Vulnerability, and
• Climate Risk.
  

Overall, we want to:

• Ensure firms effectively incorporate customers’ interests into their strategy and decision making,
• Provide clarity for firms on their consumer protection obligations,
• Support consumers and firms in accessing and navigating the Consumer Protection Code through the provision of online supports, guides and explainers.
  

The consultation period will be open for 3 months until 7 June 2024.

Find out more and submit your responses to the consultation paper.

View related documents

Guidance on Securing Customers’ Interests          

Guidance on Protecting Consumers in Vulnerable Circumstances

Draft Central Bank Reform Act 2010 (Section 17A) (Standards for Business) Regulations

Draft Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Conduct of Business) Regulations

---

Consultation Paper Document

CP158 - Consultation Paper on the Consumer Protection Code | pdf 1888 KB