AIB yesterday launched a redress scheme for 110,000 credit card customers who paid for insurance they didn’t need.

The Central Bank has launched a new report on consumer protection which proposes a comprehensive overhaul of existing legislation in a number of key areas.

The Central Bank has said it will consider sanctioning investment firms if they fail to heed warnings over poor levels of communication of costs and charges to their customers.

The Central Bank of Ireland today asked consumers to "think twice" before using the services of moneylending firms this Christmas.

The Central Bank has published new rules governing debt management firms which it says will offer greater protection to consumers in dealing with an industry that was completely unregulated up to a year ago.

Setanta Insurance customers left without cover after the firm’s collapse are now likely to be personally liable for at least part of any outstanding claims against them.

The "all or nothing" incentive schemes for sales staff that contributed to the collapse of the Irish banks that employed them were not structured in the best interests of consumers and were inherently risky, according to the Central Bank.

Only just over 30% of credit unions are fully complying with advertising standards, findings by the Central Bank show.

Thousands of Irish drivers could have to wait months to find out if their insurance claims will be covered by the assets of bust provider Setanta Insurance, a Dáil committee was told yesterday.

Serious questions have emerged surrounding the robustness of the Central Bank’s investigation into payment protection insurance after it emerged that the banks were allowed to set their own rates of compensatory interest.

The Central Bank says people are taking loans from moneylenders for longer periods.

A quarter of people who use moneylenders run into problems paying back the loan, research has shown.

Banks have been forced to pay €25m back to customers wrongly sold payment protection plans and have been warned they face further heavy fines.

The Central Bank are going to be closely monitoring how the new code of conduct on mortgage arrears is used by banks and expect to see a significant increase in restructuring within weeks.

Homeowners in arrears could be forced to give up their tracker mortgages under plans unveiled by the Central Bank today.

Despite claims by the business body Isme that banks are gouging customers with charges, the Central Bank does not believe that Irish customers are being overcharged.

A Central Bank investigation into the practices of moneylenders has found some serious issues in a small number of them.

A Dublin-based law firm that is acting for more than 1,000 clients who have been mis-sold Payment Protection Insurance (PPI) in Ireland are appalled by the advice given to consumers by the Central Bank.

Director of Consumer Protection at the Central Bank, Bernard Sheridan, has warned customers about firms charging to handle their claim for being mis-sold payment protection insurance.

Thousands of people mis-sold payment protection insurance (PPI) by six financial institutions are in line to be paid tens of millions of euro in compensation.

Customers at Ulster Bank have received at least a €25 compensation payment as a result of the bank’s technical failure.

A number of stockbroking and investment firms have been falling short of best practice standards regarding retail customer care, a Central Bank probe has found.

The Financial Services Ombudsman has received very few complaints about the three weeks of interruptions experienced by Ulster Bank customers.

Ulster Bank has been ordered to compensate any customers affected by its IT systems crash — which could last into the second half of this month.

The Central Bank has called the delay in resolving Ulster Bank's technical difficulties "unacceptable".

The Central Bank has ordered seven financial institutions to conduct a comprehensive review of the way they sold Payment Protection Insurance (PPI).

Seven financial institutions are expected to be ordered to pay back tens of millions of euro in mis-sold payment protection insurance premiums by the Central Bank’s director of consumer protection, Bernard Sheridan.

Bank of Ireland is to pay back close to €1m to 1,514 credit card customers who were mis-sold payment protection insurance products by the bank.

AIB is to refund €3.1m in payment protection insurance premiums to 11,500 customers — an average of €270 each — after the bank uncovered a “breakdown in its verification systems”.

Thousands of customers erroneously sold payment protection insurance (PPI) are expected to win millions of euro in compensation as a result of a Central Bank investigation which has found the problem was systemic.

More than 70,000 mortgages in Ireland are now in arrears, latest figures reveal.

Financial services firms have been forced by the Central Bank to drop or amend misleading advertisements aimed at potential customers.

CURRENT account holders who stay in credit in the Republic pay slightly higher banking fees than those in Britain and the North, according to research by the Central Bank.

THE Central Bank has raised concerns over current account charges being imposed by Irish banks, but has stated that it has found no instances of overcharging.

A STRICTER set of rules have been slapped on the country’s banks when it comes to mortgage lending and dealing with customers in arrears.

New figures published today by the Central Bank indicate that over 55,000 mortgage holders are in arrears for more than 90 days.

THE home loans of at least 18,000 “restructured” mortgage holders continue to increase as they struggle to pay their debts, it emerged yesterday.

NO insurance firms are fully complying with the consumer protection code, according to findings from the Central Bank.

PROPOSED new guidelines to strengthen protection for consumers when dealing with financial institutions were unveiled by the Central Bank yesterday.

BANKS are showing a willingness to engage with borrowers who are having difficulty paying their mortgages, according to the Central Bank and Financial Regulator.

The Central Bank today announced that it has made three new appointments at assistant director general (ADG) level.