Consumer Protection Code Review

(Ensure cookies are turned "on" to load the video above)| Transcript of the video "Consultation Paper on the Consumer Protection Code (March 2024)"

Central Bank of Ireland is conducting a comprehensive review of the Consumer Protection Code 2012.

We have now launched our Consultation Paper. The Consultation Paper is an opportunity for stakeholders to provide feedback on how we are 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.
CP158 - Consultation Paper on the Consumer Protection Code | pdf 1888 KB

Consumer Code Review 2024 Infographic 

Further detail on our proposals is available below.

The Consultation Paper remains open for feedback for three months until 7 June 2024.

Interested parties can make submissions by email to: [email protected] or by post to Central Bank of Ireland, PO Box 559, Dublin 1.

Explore our Consultation Paper

Next Steps

Our Consultation Paper on the Consumer Protection Code will be open for three months until 7 June 2024. After the consultation, we will consider your feedback before publishing the revised Consumer Protection Code in early 2025 alongside a feedback statement which will outline the rationale for our approach to the updates in the revised Consumer Protection Code. 

Code Review Process - March 2024

How is the review being conducted?

The review is being conducted in three phases:



As part of the review of the Consumer Protection Code, we conducted consumer research to help us further understand the perspectives of those who rely on the protections of the framework.

The findings from our research, alongside the results from our online survey, our own analysis and feedback provided by our stakeholders through our Discussion Paper engagement, informed our policy considerations and the development of our policy proposals that are outlined in the Consultation Paper on the Consumer Protection Code which was published on 7 March.

To find out about our findings from our consumer research, read our Consumer Research Report.

As part of our engagement on the review, we also took to the streets of Dublin to find out what members of the public thought about a range of consumer topics. Watch the videos below.

(Ensure cookies are turned "on" to load the video above) | Transcript of the "Word on the Street video"