Central Bank Of Ireland Consumer Protection Code 2025

The Central Bank of Ireland has taken the final step in reviewing the Consumer Protection Code by publishing its Feedback Statement. This follows last year’s public consultation on proposed changes to the Code, which will officially be updated from 24 March 2026.
 

Consumer Protection Regulations

The Central Bank of Ireland has made several adjustments to the Consumer Protection Regulations to refine and clarify certain points. Here are some key updates:

• A new rule requires mortgage providers to provide title deeds to borrowers (or their representatives) within 10 working days of a request, with certain exceptions.
• The rules around appointing a “trusted contact person” have been refined to avoid any overlap with the roles of decision making representatives under the Assisted Decision-Making (Capacity) Act 2015.
• The digitalisation provisions have been updated to strike a balance, ensuring firms don’t create unnecessary obstacles for consumers while also making sure online transactions remain fair and transparent.
• The definition of “consumer in vulnerable circumstances” has been revised to make it clearer that vulnerability can be either temporary or permanent.
• Firms now have more flexibility in how they record information about vulnerable consumers, recognising that vulnerability can take many different forms.

These updates aim to enhance consumer protection and ensure that financial firms continue to act responsibly, particularly when dealing with vulnerable customers.
 

Guidance on Securing Customer’s Interests

The Guidance on Securing Customer’s Interests has been refreshed. Some of the new updates include:

• Clarifications on how firms should respond when customers make poor or unwise financial decisions.
• A clearer explanation of the steps firms should take to ensure they’re acting in their customers’ best interests in a way that’s proportional and fair.
• Additional guidance for firms offering green or sustainable financial products.
• More details on the Central Bank of Ireland and its expectations when firms deal with customers on an execution-only basis.

Guidance on Protecting Consumers in Vulnerable Circumstances

This guidance has also been expanded with additional recommendations on:

• Training staff to recognise and safeguard adults who may be at risk of financial exploitation, harm, or abuse.
• The use of the word “harm” in the context of how firms interact with consumers.

The new Regulations and Guidance bring some important updates to the Code to help modernise it, make things clearer, and offer stronger protection for consumers in today’s evolving financial world. These changes will come into effect on 24 March 2026.

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