Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill 2021
Public bill · Government · Presented
It would bring more hire-purchase, PCPs, consumer-hire and indirect credit providers under Central Bank authorisation, with transition rules for firms newly caught by the regime. It would also let the State collect and publish more data on these agreements, cap the interest rate on most consumer credit and hire-purchase deals at 23% APR, and require hire-purchase contracts to show the APR. These changes matter because they aim to give consumers clearer pricing, stronger oversight of lenders and more protection against high-cost credit.
Formal long title
Bill entitled an Act to provide for the extension of authorisation requirements to persons carrying on hire-purchase or consumer-hire business or providing credit indirectly and persons carrying on business relating to hire-purchase or consumer-hire agreements or the indirect provision of credit; to provide for the collection and publication of information on credit agreements, hire-purchase agreements and consumer-hire agreements; for those and other purposes to amend the Central Bank Act 1997; to provide for a limit on the interest rate that consumers may be charged under credit agreements and hire-purchase agreements; to provide for a requirement to include the annual percentage rate in a hire-purchase agreement; for those and other purposes to amend the Consumer Credit Act 1995 and to provide for related matters.
Last updated 11 September 2024
- Minister for Finance Primary
- First StageDáil
- Second StageDáil
- Committee StageDáil
- Report StageDáil
- Fifth StageDáil
- Second StageSeanad
- Committee StageSeanad
- Report StageSeanad
- Fifth StageSeanad Enacted
- EnactedEnacted
- Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill 2021: Committee and Remaining Stages Seanad
- Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill 2021: Second Stage Seanad
- Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill 2021: Report and Final Stages Dáil
- Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill 2021: Committee Stage Select Committee on Finance, Public Expenditure and Reform, and Taoiseach
- Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill 2021: Second Stage (Resumed) Dáil
- Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill 2021: Referral to Select Committee Dáil
- Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill 2021: Second Stage (Resumed) Dáil
- Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill 2021: Second Stage Dáil