On 12 January 2015, and following the Department of Finance's public consultation, the Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015 (The Bill) was published. The Bill provides for a new authorisation requirement for firms servicing credit provided to certain borrowers (subject to a number of exceptions including where the legal owner of the loans appoints a regulated entity to undertake credit servicing on its behalf). This will provide protection for these borrowers by ensuring the continued application of certain Central Bank codes. Minister Noonan has stated that the Bill is due to be passed through the Houses of the Oireachtas early this year.