Central Bank considers action against 'small number' of moneylenders

The Central Bank is investigating a small number of moneylenders for breaches of the consumer protection code.

The bank carried out a number of inspections and found the majority of firms were broadly compliant.

However, serious issues which were found in a small number of firms are being followed up individually.

The inspections focused on the charges imposed by the lenders.

The Bank said it was now considering enforcement actions for a small number of the firms.