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” in March 2024.

The consultation followed a comprehensive review that included a discussion paper, public survey, public consultation and engagement with consumer and industry stakeholders. The purpose of the review was to deliver an updated and modernised Consumer Protection Code which is centred on firms securing customers’ interests.

On 24 March 2025, the Central Bank of Ireland published the modernised Consumer Protection Code, which outlines a set of rules and business standards that regulated financial firms must follow when dealing with consumers. Firms have a year to put the revised Code in place, and so the provisions will apply for the public from March 2026.

The revised Code reflects the way financial services are provided in a digital world, and builds on the protections provided in the existing Code.

The modernised Code is centred on an obligation for firms to secure customers’ interests which embodies a customer-focused mind-set where firms proactively take ownership of, and responsibility for, consumer protection. It also enhances consumer protections across a range of areas, including: