New rules for financial firms coming ‘should better protect consumers’

New rules for financial firms, which experts say should better protect consumers, will be introduced next month.

From March 24, there will be a ban on auto-renewal of a wide range of insurance, including for travel and gadgets.

Mortgage switching should also get easier, because lenders will have to provide title deeds to a borrower within 10 days of a request. Additionally, stronger rules are coming in for customers in vulnerable circumstances.

These rules are part of the Central Bank’s revised Consumer Protection Code (CPC).

For more on this story, visit the Irish Independent website.

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Credit to : Irish Independent