CP158 - Consultation Paper on the Consumer Protection Code Overview Description The Central Bank launched Consultation Paper 158 titled “Consultation Paper on the Consumer Protection Code”. The Consultation Paper provided 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:DigitalisationInforming effectively Mortgage credit and switchingUnregulated 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 was open for 3 months and closed on 7 June 2024.View related documentsGuidance on Securing Customers’ Interests Guidance on Protecting Consumers in Vulnerable CircumstancesDraft Central Bank Reform Act 2010 (Section 17A) (Standards for Business) RegulationsDraft Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Conduct of Business) Regulations CP Number : CP158 Date : 07 March 2024 Closing Date : 07 June 2024 Consultation Paper Document CP158 - Consultation Paper on the Consumer Protection Code | pdf 1888 KB