Dáil Éireann Debate, Thursday - 3 December 2009
77 Deputy Joanna Tuffy asked the Minister for Finance if consumer protection will remain part of the remit and core activity of the new Central Bank Commission; if supporting structures such as the consultative consumer panel will continue to be part of the institutional framework of the new Central Bank Commission; and if he will make a statement on the matter. [44886/09]
Amharc ar fhreagra83 Deputy Eamon Gilmore asked the Minister for Finance the consumer functions which will be transferred from the Financial Regulator; the timeframe for this transfer of functions; and if he will make a statement on the matter. [44590/09]
Amharc ar fhreagraI propose to take Questions Nos. 77 and 83 together.
A bill providing for the establishment of the Central Bank Commission will be published early next year.
The restructured Central Bank of Ireland will continue to have significant responsibility for consumer protection issues. This will include monitoring compliance, for example with statutory codes of practice for the financial services industry, with the Consumer Credit Act by credit firms and with the regulation of bank charges.
The consumer information and education functions currently carried out within the Consumer Directorate in the Financial Regulator are to be transferred to the National Consumer Agency (NCA).
I am currently considering the structures to be put in place.
