Authorisation Requirements to be Extended to Hire-Purchase and other Types of Credit

The current draft of the Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill 2021 (available here) proposes one of the most significant expansions to financial services authorisation requirements in recent years.  Authorisation from the Central Bank of Ireland will be required in relation to a broader scope of “credit” (no longer only “cash loans”) whether provided directly or indirectly, as well as to hire-purchase and consumer-hire business, in each case involving natural persons. 

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