Consumer Protection (Regulation of Credit Servicing Firms) Act 2015

The Consumer Protection (Regulation of Credit Servicing Firms) Act 2015 came into force on 8 July 2015. The Act aims to protect borrowers whose loans are sold to unregulated entities. The Act ensures that consumers retain the protections they had prior to the sale of their loan.

The Central Bank, as the competent authority in Ireland for the purposes of the Act, published on 10 December 2015 "Authorisation Requirements and Standards for Credit Servicing Firms" which can be accessed here.

For further information please contact Louise McNabola at lmcnabola@algoodbody.com.

Date published: 15 December 2015