Submissions by topics "Should Ireland provide for any further prohibitions or limitations regarding specific charges or fees applied by creditors?"
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In general, the CCPC opposes the introduction of capping interest rates. Such caps mostly do not achieve the intended outcomes, but instead serve to reduce competition with the cap effectively...
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Credit unions are bound by a monthly interest rate cap of 2%. In addition, legislation passed in April 2024 by the Minister for Finance lifted the longstanding prohibition on loan-related charges,...
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No, not for credit unions. As set out in the explanatory memo credit unions are subject to an interest rate cap of 2% per month as part of Credit Union (Amendment) Act 2023. The Act also made...
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No. We believe that the controls already outlined are adequate and provide sufficient protection for consumers.
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As noted, credit unions are subject to an interest rate cap of 2% per month. Furthermore, in April 2024, the Minister for Finance signed legislation removing the prohibition on charges on loans,...
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