Consumer Protection Code – FAQ

• Can the Central Bank advise how we should refer to the revised Code in our communications to customers?
  • Should they be given their full legal title or would a reference such as CPC 2025 be suitable to use? 
  • Does the Central Bank have a view regarding the term to be used when referring to the Regulations?

The Consumer Protection Code 2025 is made up of two Regulations:

• Standards for Business Regulations - these may be cited as the Central Bank Reform Act 2010 (Section 17A) (Standards for Business) Regulations 2025. For shorthand, they have also been referred to as the Standards for Business Regulations or just the Standards for Business.
• Consumer Protection Regulations - these may be cited as the Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Consumer Protection) Regulations 2025. For shorthand they have also been referred to as the Consumer Protection Regulations.

We frequently use the shorthand "the Code", “CPC 2025”, "the Consumer Protection Code" to reference the two sets of regulations collectively. There may be instances for firms where having the full legal title of the regulations is not appropriate for the audience/customers, so shorthand references can be used as appropriate.  At all times, firms should consider how, in their communications with consumers, they are meeting the obligations of Informing Effectively and should use language and references that will be accessible and meaningful to consumers.

• The requirements of the former Code of Conduct on Mortgage Arrears (CCMA) are now consolidated into the Consumer Protection Regulations 2025. How should we refer to these obligations going forward in our arrears letters, MARP booklets, etc?

A reference such as this should be meaningful to a consumer so that they have an understanding as to what the requirements relate to. The reference to CPC 2025 is possibly too broad for this specific topic that is dealing with mortgage arrears, so we would suggest wording along the lines of: Conduct Requirements - Mortgage Arrears, and to include a reference to the regulations in a footnote, to give consumers the full information. The former CCMA requirements are contained in Part 3, Chapter 9 of the Consumer Protection Regulations.

Numerous references to specific legal provisions can create challenges for borrowers in engaging with communications and correspondence from a “plain language” perspective. While it is important that borrowers understand what provisions are being referenced in correspondence and other communications, there is a balance to be struck in terms of informing effectively. Firms should consider how best to balance the requirement to fully inform consumers while also informing them effectively, e.g. by defining terms, reducing the number of times full legal referencing is required, and using footnotes as appropriate.

• Would it be possible for the Central Bank to include a clarification of scope at the start of each chapter, similar to CPC 2012? We appreciate there is a Scope and Application section within Part 1; however, given the size of the document, a section at the start of each chapter would improve understanding and clarity on the relevant obligations.

The Consumer Protection Code is made up of two regulations:

1. Central Bank Reform Act 2010 (Section 17A) (Standards for Business) Regulations 2025, SI No.80 of 2025
2. Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Consumer Protection) Regulations 2025, SI No. 81 of 2025

These two Regulations are official Statutory Instruments, so it is not feasible to include additional wording at the start of specific chapters. The “scope and application” sections in Part 1: Preliminary and General of each of the regulations sets out the specific scope and application of the regulations to different types of financial services providers and the “restricted application” sections provide further information on which regulations do not apply to specific sectors or products.

• Can the Central Bank provide clarity on where there are references to intermediaries within the Code, that this does not include credit intermediaries?

Credit intermediaries continue to be outside the scope of the Code. However, it is important for firms to consider how they can ensure they meet their consumer protection obligations when they use credit intermediaries to engage with their customers.

It should be noted in particular that the Consumer Protection Regulations apply to the regulated activities of regulated entities operating in the State (Regulation 3(1)). A credit intermediary authorised by the CCPC does not fall within the definition of a “regulated entity” as set out in the Consumer Protection Regulations and, to that extent, the requirements of the Consumer Protection Regulations do not apply. The term “intermediary” may however be used in other contexts, e.g. in the context of imposing a requirement on a regulated entity in its dealings with an intermediary. It is a matter for regulated entities to consider the terms of the requirement, the application of the requirement to its business, and the scope and application of the Consumer Protection Regulations.

• Per the Code, what defines/describes a “consumer” and a “personal consumer”?
  

“Consumer” means, subject to paragraph (4), a customer that is:

1. A natural person
2. A group of natural persons, including a partnership, club, charity, trust or other unincorporated body
3. Or an incorporated body, that is not:

• An incorporated body that had an annual turnover in excess of €5 million in the previous financial year
• Or an incorporated body that is a member of a group of companies having a combined turnover greater than €5 million

“Personal consumer” means a consumer who is a natural person acting outside his or her business, trade or profession.

As personal consumer refers to a “natural person acting outside his or her business, trade or profession”, when tying that back to the consumer definition, would personal consumer just relate to “a natural person”, or does it relate to “a natural person” and “a group of natural persons, including a partnership, club, charity, trust or other unincorporated body”, or is there some other way to interpret personal consumer?

There is a distinct definition for “personal consumer” – where it means a natural person acting outside his or her business, trade or profession. This covers what would ordinarily be considered as individual consumers who engage as individuals in a personal capacity with financial service providers.

• What describes a “Consumer in vulnerable circumstances”?

“Consumer in vulnerable circumstances” means a consumer that is a natural person and whose personal circumstances, whether permanent or temporary, make that consumer especially susceptible to harm, particularly where a regulated entity is not acting with the appropriate levels of care, and “vulnerable circumstances” shall be construed accordingly.

Does “natural person” in this instance relate to

“Personal consumer” means a consumer who is a natural person acting outside his or her business, trade or profession.

As personal consumer refers to a “natural person acting outside his or her business, trade or profession”, when tying that back to the consumer definition, would personal consumer just relate to “a natural person”, or does it relate to “a natural person” and “a group of natural persons, including a partnership, club, charity, trust or other unincorporated body”, or is there some other way to interpret personal consumer?

a natural person” of the “consumer” definition, or does it relate to “a natural person” and “a group of natural persons, including a partnership, club, charity, trust or other unincorporated body” of the “consumer” definition, or is there some other way to interpret natural person in the context of consumer in vulnerable circumstances?

The Code defines consumer in vulnerable circumstances as a natural person. As per the response above, this means a natural person acting outside his or her business, trade or profession. In theory a group of natural persons could be collectively in vulnerable circumstances, but the same requirements would be on the financial services provider to engage with each individual as per the overall Code requirements for consumers in vulnerable circumstances.

• Are suitability statements required for unsecured lending products? If so, do staff need to be qualified in line with the Minimum Competency Code (MCC) in order to assess applications?

Since 2022, Chapter 5 of the 2012 Code (Knowing the Consumer and Suitability) applied to hire-purchase agreements, consumer-hire agreements and BNPL agreements except where firms were providing BNPL agreements which fall within the European Communities (Consumer Credit Agreements) Regulations 2010 (S.I. No. 281 of 2010). This approach continues to be reflected in the 2025 Code. The Central Bank published an Addendum to the Minimum Competency Code 2017 (the MCC) in May 2022 which addressed the issue of application of the MCC to directly or indirectly providing credit or entering into a hire-purchase agreement or consumer-hire agreement to which the Central Bank Act 1997 applies. Overall, a suitability statement is required for in scope unsecured lending products, and staff exercising controlled functions (CF) and pre-approval controlled functions (PCF), which may include preparing and assessing suitability statements, within these firms are required to comply with the MCC requirements. In line with the transitional arrangements set out in the May 2022 addendum, they were required to be qualified by 16 May 2026.

• Can the Trusted Contact Person act on behalf of the consumer, for example, can they make changes or amendments to an insurance policy held in the consumer’s name?

A Trusted Contact Person can be appointed at the request of a consumer, simply to act as a point of contact should there be any difficulties in communicating with the consumer, or where a firm suspects financial abuse including fraud. A Trusted Contact Person has no authority to deal with the affairs of a personal consumer and therefore cannot make changes to an insurance policy as outlined in this question, as that would be for the policyholder themselves to initiate.

• Can the Central Bank confirm that insurance undertakings are exempt from this requirement, as per Regulation 11(1) of the Consumer Protection Regulations - “Restricted application to insurance distributors and insurance-based investment products”?

Yes, that is correct. Regulation 61 of the Consumer Protection Regulations requires regulated entities to inform the consumer of the ombudsman, where relevant, and any alternative dispute resolution service, that will deal with a complaint in the event that the consumer does not accept the decision of the regulated entity’s complaints process.

Regulation 11(1) of the Consumer Protection Regulations states that regulation 61 does not apply to insurance distributors. Insurance distributors are as set out in regulation 2 of the Insurance Distribution Regulations, which defines "insurance distributor" as any insurance intermediary, ancillary insurance intermediary or insurance undertaking.

• How will future changes be made to the Consumer Protection Code – for example when EU Directives are introduced?

When new requirements such as these arise, the approach taken is to carry out a mapping exercise to determine if/how the new directive (e.g. the DMFSDII and CCD2 above) will impact the Consumer Protection Code and to identify areas where amendments may be required to reflect the level of harmonisation provided for in the relevant directive, and to identify potential overlaps/duplication/conflicts in the requirements. Amending S.I.s for the Consumer Protection Code will then be published in due course, similar to the approach taken with the Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Consumer Protection (Amendment) Regulations 2026 (S.I. No. 111 of 2026) which took effect in March 2026.

• My firm already discloses quite a lot of information on the risks associated with products – what is the expectation in this regard in terms of the 2025 Code?

The expectation is that firms prominently show product risks to consumers before they decide whether to purchase these products, and that product risks are given equal prominence to product benefits in communications to consumers. It is not sufficient to have product risks set out in a lengthy document such that a customer has to navigate through the document to locate these. The level of disclosure and information on product risk is dependent on the complexity of the product, which can impact the ability of customers to understand risks associated with products and to compare products effectively. For more complex products or services, firms should consider their potential target market in particular detail. They need to take account of any increased risk of consumer harm associated with customers accessing inappropriate products or services, due to a lack of customer understanding of the risks involved

• There are lots of changes in the revised Consumer Protection Code and the regulations/codes that have been amalgamated into the 2025 Code. Does the Central Bank have any examples of how certain firms or sectors have sought to explain some of these changes to consumers – with the aim of informing them effectively?

We have seen some good examples of correspondence to explain to consumers how the Code of Conduct on Mortgage Arrears (CCMA) has been consolidated into the Code – reiterating that there are the same protections for consumers, that the processes are the same and that in effect there are no changes, clarifying that the rules are now located within the Consumer Protection Regulations instead of in a stand-alone code. That is a positive step as it provides reassurance to a specific cohort of consumers who, due to their personal circumstances, may be experiencing vulnerability due to financial difficulties.

• What has the Central Bank done in terms of informing consumers about the revised Code and are there any lessons learned that firms can take from the work in this area?

Throughout the implementation period of the Code, the Central Bank focused on engaging primarily with industry to support activities in preparation for the Code - developing supporting materials, engaging in industry workshops, webinars etc. and responding to questions on the regulations. Since the Code took effect in March 2026 our focus has been on informing consumers about the protections of the Code in a way that is meaningful to them. Throughout our Consumer Awareness Campaign we used our Consumer Hub, social media, radio and online advertising to share plain language information on the Code and the protections for consumers, aligned with products they are familiar with such as car insurance, mortgages, etc. 

Firms are encouraged to consider the most suitable and effective methods of communicating based on their business and their customer profile.