Submissions by topics "Should Ireland impose a ban on commissions paid by a creditor to a credit intermediary?"
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No, an outright ban on commissions paid by a credit providers to a credit intermediary should not be necessary given the proposed requirements to protect consumers as set out in Regulation 20 of...
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CUMA does not believe there is a valid reason to impose a ban on such commissions. Section 26 of the Credit Union Amendment Act 2023 introduces a new provision allowing credit unions to refer...
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No. We do not favour a ban on commission as parts of the Credit Union (Amendment) Act 2023 as commenced by SI 475 of 2024 relating to referral of members may involve a fee or commission. Adding...
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We do not see the merit in a ban on such commission. The Consumer Protection Code sets out onerous requirements with respect to remuneration and transparency, including in the Addendum to the...
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No, given the potential for unintended consequences for consumers and lenders. Credit intermediaries are an important distribution channel delivering a convenient point-of-sale option for consumers...
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Brokers Ireland would be opposed to a ban on commission. We believe once the remuneration method and amount are disclosed to the consumer, it should be up to the consumer to consider and decide...
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