Unique Reference Number: 
DFIN-C8-6
Status: 
Submitted
Author: 
CUMA - Credit Union Managers Association

3.9 Article 16(4) of CCD2

Credit unions offer various services, including financial reviews and product guidance tailored to members' needs, acting as intermediaries between consumers and product providers. These services are regulated by the Credit Union Act 1997. However, credit unions do not refer to their advice as "independent." This may be worth considering in discussions around the Consumer Protection Code (CP158) and the draft Central Bank Conduct of Business Regulations.