Public Consultation - Capping the cost of licensed moneylenders and other regulatory matters

The Department of Finance is considering proposals to cap the cost of borrowing from licensed moneylenders. The Department wants to get views on whether the introduction of a cap on interest rates would have a negative effect on the regulated supply of credit and might lead to an increase in illegal moneylending or to financial exclusion for consumers of these regulated firms.

How to Respond

The preferred means of response is by email to: consumer.protection@finance.gov.ie

Alternatively, you may respond by post to:

Consumer Protection – Public Consultation,

Banking Division,

Department of Finance,

Government Buildings,

Upper Merrion Street,

Dublin 2.

D02 R583

Please include contact details if you are responding by post.

Consumer Credit (Amendment) Bill 2021 will restrict rate charged by moneylenders, modernise the sector and better protect those in need of short-term money lending - Donohoe