The Central Bank of Ireland (the Central Bank) has published a second consultation paper (CP 82) in respect of additional consumer protection requirement for debt management firms. The Central Bank has decided to seek further views on certain important proposals, including: client leads; use of credit to pay for debt management services; and a cooling off period.

The purpose of this second consultation is three-fold:

  1. to outline the position reached on some of the issues and questions posed in CP75;

  2. to highlight a number of new or amended provisions which have come to the Bank's attention as part of its analysis of the submissions received in response to CP75 and also as a result its ongoing regulatory work; and

  3. to give a final opportunity to stakeholders to review a full version of the proposed new Additional Requirements

Submissions are invited from interested parties up to 18 July 2014.