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 Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Licensed Moneylenders) Regulations 2020 will replace the  the Consumer Protection Code for Licensed Moneylenders from 1 January 2021. However, Regulation 8(4) will come into effect earlier on 1 September 2020.

The Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Licensed Moneylenders) Regulations 2020 Questions and Answers provides answers to queries which may arise in relation to the Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Licensed Moneylenders) Regulations 2020

The 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.