Irish Central Bank To Boost Consumer Protection In 2020

Law360, London (January 15, 2020, 4:25 PM GMT) -- The Central Bank of Ireland said Wednesday that it will strengthen its safeguarding of customers of banks and insurers by reviewing its consumer protection code over the next year, after revelations in 2019 showed poor conduct in the national markets.

The central bank, the republic’s financial services watchdog, said it will update its code of conduct, which banks and insurance groups serving Irish consumers must follow. The announcement comes after the regulator said in November that retail banks pushed trust in the sector to an all-time low by failing to do the right thing.

The code, which the central bank introduced in 2006...

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