Ireland's Department of Finance announced that the Financial Services and Pensions Ombudsman (Amendment) Bill 2023 has passed all stages in the Oireachtas, with Ministers Paschal Donohoe and Robert Troy highlighting that it strengthens Ireland’s consumer protection framework. The reforms amend the legislation underpinning the Financial Services and Pensions Ombudsman (FSPO) so it can continue to perform its statutory functions in line with the Constitution following the Supreme Court’s Zalewski decision affecting bodies with quasi-judicial roles. The Act broadens access to the FSPO so that all mortgage holders can use its complaints and redress services, including by addressing issues raised during parliamentary scrutiny about certain mortgage holders whose loans had been sold before 2015 and between 2015 and 2018. It also clarifies that customers of financial service providers that have left the Irish market will continue to have access to FSPO protections. The release cited FSPO caseload and outcomes data, including 6,185 complaints received in 2024 (6,182 in 2023) and EUR 5.7 million delivered in outcomes to consumers in 2024. With parliamentary passage complete, the Bill will now be sent to the President of Ireland to be signed into law.
Department of Finance (Ireland) 2025-04-10
Ireland's Department of Finance welcomes Oireachtas passage of Financial Services and Pensions Ombudsman Amendment Bill strengthening consumer protections
Ireland's Department of Finance announced the passage of the Financial Services and Pensions Ombudsman (Amendment) Bill 2023, enhancing consumer protection by broadening FSPO access for all mortgage holders. The reforms address issues for loans sold before 2015 and between 2015 and 2018, ensuring FSPO protections for customers of financial service providers that have exited the Irish market. The Bill, aligning FSPO functions with constitutional requirements post-Zalewski decision, awaits the President's signature to become law.