Central Bank of Ireland modernises the Consumer Protection Code with a new obligation to secure customers’ interests effective from March 2026

The Central Bank of Ireland has published a modernised Consumer Protection Code, updating the rules and business standards that regulated financial firms must follow when dealing with consumers. The revised framework is built around a new obligation for firms to secure customers’ interests, and firms have one year to implement it ahead of the provisions applying to the public from March 2026. The updated Code is designed to reflect how financial services are delivered in a digital environment and strengthens protections across multiple areas, including customer-focused design of digital services and a shift from disclosure to “informing effectively”. It introduces new mortgage switching disclosures, including on switching options and the impact of incentives on the overall cost of credit, and requires clearer separation where regulated firms provide unregulated activities so customers are not misled about regulatory status. The framework also adds expectations around vigilance against frauds and scams, updates the definition of vulnerability to recognise that customers can move in and out of vulnerable circumstances, and requires clear communication of climate and sustainability features to address greenwashing risks, alongside enhanced requirements for consumer credit, small and medium-sized enterprise protections, insurance, investments and pensions. Implementation will be supported by comprehensive guidance and tools published alongside the Code, and the Central Bank plans ongoing stakeholder engagement over the next 12 months as firms work towards effective implementation.