Central Bank of Ireland publishes ‘modernised’ Consumer Protection Code

Central Bank of Ireland publishes 'modernised' Consumer Protection Code

Pictured: Central Bank governor Gabriel Makhlouf and deputy governor Derville Rowland.

The Central Bank of Ireland has published a “modernised” version of the Consumer Protection Code following an extensive review.

The Consumer Protection Code outlines a set of rules and business standards that regulated financial firms must follow when dealing with consumers.

Firms have a year to put the revised Code in place — meaning it will be binding on businesses from March 2026.

The updates cover areas including digitalisation, mortgage switching, fraud and scams, as well as hot topics like “greenwashing”, where the Code says firms must ensure they communicate clearly on the climate and sustainability features of products.

Central Bank governor Gabriel Makhlouf said: “The modernisation of the Consumer Protection Code is a significant milestone for the protection of consumers of financial services in Ireland, and is built on the strong foundations of its predecessor.”

He continued: “In reviewing the Code we have focused on modernising the regulatory framework to reflect the provision of financial services in a digital world. Consumers will benefit from a package of protections that better reflect how they are accessing financial services in the modern world.

“Regulated firms will benefit from an integrated regulatory format, and a clearer articulation of their Code obligations, complementing the work they are already doing.

“We are also publishing comprehensive guidance to support firms, and we will continue to engage with stakeholders over the next 12 months as we work towards effective implementation.

“I want to thank consumers and stakeholders from across the financial system who, over the last three years, have supported and informed the development of the revised Code. Through their commitment to dialogue and engagement to inform the new Code, they have made an important contribution.”

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