New consumer protections on PCP 'cannot come quickly enough'

More than one-third of new cars are bought under PCPs in Ireland. File picture

The forthcoming legislative bill to enshrine consumer protection regarding so-called "personal contract plans" (PCP) into law "has never been greater" and "cannot come quickly enough".

That is according to a cross-party selection of TDs, who were speaking during a debate on the Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill 2021, which will extend the the Central Bank’s Consumer Protection Code to cover hire purchase and PCPs.