Ireland's Department of Finance announced that the Credit Review Bill has been signed into law, establishing An tSeirbhís um Athbhreithniú Creidmheasa (the Credit Review Service) as an independent statutory body providing an informal appeals mechanism for small and medium-sized enterprises (SMEs) and farmers who are denied bank credit. The Act also provides a basis to extend the Service to regulated non-bank lenders in future. The Credit Review Service examines participating banks’ decisions where an SME or farm borrower has had a credit application of up to EUR 3 million declined or reduced, and the borrower has a viable business proposition. It operates as a mediation process, issuing recommendations to the bank on terms it could offer; while lenders are not obliged to accept recommendations, they must explain any decision not to do so. Since its establishment in 2010, the Service has received 1,468 formal applications and supported almost 60% of appeals, resulting in over EUR 86 million in additional credit, alongside broader work such as reporting on lending trends, operating a helpline, and publishing guidance.
Department of Finance (Ireland) 2026-02-11
Ireland's Department of Finance welcomes Credit Review Bill becoming law and establishing the Credit Review Service as a statutory body
Ireland's Department of Finance enacted the Credit Review Bill, establishing the Credit Review Service as an independent body for SMEs and farmers denied bank credit. The Act allows future extension to non-bank lenders, with the Service reviewing declined credit applications up to EUR 3 million and issuing non-binding recommendations to banks.