Regulating Loan Owners: Proposed Amendments To The Credit Servicing Regulatory Regime (Update)

Author:Mr Garry Ferguson, Noeleen Ruddy, Shane Martin, Matt Hedigan, Andrew Traynor, Niall Esler and Eoin O'Connor

Following further debate in the Seanad (the upper house of the Irish parliament) on 18 December 2018, the Consumer Protection (Regulation of Credit Servicing Firms) Amendment Bill 2018 (the "Bill") was passed, without further amendment. The Bill will now be sent to the President to sign into law.

Once the Bill is signed into law by the President, the Minister for Finance, Paschal Donohoe, will issue a commencement order. We understand that the Bill will have a commencement date of 21 January 2019.

Please see our previous client briefing (available here) for a detailed analysis of the amendments to the existing credit servicing regime that will be introduced by the...

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