Paschal Donohoe defends Central Bank performance on Consumer Protection Code

Central Bank handed out 26 enforcement actions for breaches of code between July 2006 and July 2016. Since then, however, it has only fined Permanent TSB and KBC Bank Ireland

The Central Bank has been criticised over a perceived lack of enforcement relating to its Consumer Protection Code

Finance Minister Paschal Donohoe has defended the Central Bank against accusations it is not enforcing the Consumer Protection Code and is failing to punish financial services firms for breaching its own rules.

Ged Nash, Labour’s finance spokesman, said the Central Bank has “major questions to answer” in relation to enforcing the code.