Submissions by topics "Should the use of the terms independent advice and independent advisor or other similar terms be prohibited where these services are provided by the credit provider or credit intermediary?"
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Yes, the use of such terms should be prohibited for Credit intermediaries. Credit intermediaries continue to fall outside the Central Bank’s Consumer Protection Code and are currently subject to a...
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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...
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No. It is prudent for consumers to be afforded the opportunity to seek independent advice, but it should be at their discretion, for a number of reasons. Credit Unions are permitted under schedule...
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No. The Central Bank of Ireland (CBI) already has significant governing codes and safeguards in place regarding the provision of independent advice, as applicable to those firms that are regulated...
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We have no strong view on the prohibition of such terminology. A credit union can offer a range of services. This can include a review of a member’s current financial arrangements and advice on a...
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No, there should be no restrictions on using the terms “independent advice” and “independent advisor” for credit intermediaries who are not tied to one credit institution whilst acknowledging that...
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