The Central Bank launched the regulations that will replace the Consumer Protection Code (CPC) this morning.
The CPC has been revised, updated and consolidated into the Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Consumer Protection) Regulations 2025 (Consumer Protection Regulations). The Code of Conduct on Mortgage Arrears (CCMA), the 2020 Licensed Moneylenders Regulations and the 2022 Insurance Requirements Regulations have also been updated (albeit less substantively) and consolidated into the Consumer Protection Regulations.
Application
The Consumer Protection Regulations will apply from 24 March 2026, giving regulated entities a 12-month transition period to prepare for the changes. As expected, the Central Bank has adjusted the maximum turnover threshold for an incorporated body to come within the CPC definition of "consumer" from €3 million per annum up to €5 million per annum, so this will bring an additional layer of incorporated entities into scope.
Guidance and Tools
The Central Bank has also published General Guidance on the Consumer Protection Code to assist firms with implementation, together with Guidance on Securing Customers' Interests and Guidance on Protecting Consumers in Vulnerable Circumstances.
It has also published a useful Mapping Tool, which shows where the provisions of the existing CPC, CCMA, the 2020 Licensed Moneylenders Regulations and the 2022 Insurance Requirements Regulations are located in the Consumer Protection Regulations.
The Central Bank's Feedback Statement sets out its responses to the feedback received as part of its 2024 CPC Consultation (CP 158). It has also published a table of the changes it has made to the draft Consumer Protection Regulations that formed part of that consultation.
Standards for Business
Under the Central Bank (Individual Accountability Framework) Act 2023, the Central Bank was empowered to prescribe Business Standards for all or specific classes of regulated entities. Draft 'Standards for Business' Regulations also formed part of the Central Bank's 2024 CPC consultation, and the final regulations were published this morning (Central Bank Reform Act 2010 (Section 17A) (Standards for Business) Regulations 2025). These are divided into Standards for Business and Supporting Standards for Business and will also apply from 24 March 2026.
We will be publishing more detailed insights over the course of this week on key aspects of today's publications, including the Standards for Business Regulations and the adjustments to the arrears management-related provisions of the CPC and CCMA.
This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.
