Dáil Éireann Debate, Thursday - 5 February 2026
182. Deputy Ken O'Flynn asked the Tánaiste and Minister for Finance whether the Central Bank of Ireland maintains internal guidance, criteria, or decision-making frameworks to assess when repeated settlements or litigation outcomes indicate a breach of the "stop the harm" principle; and whether he will publish the headline principles of any such framework in the interests of transparency. [9062/26]
Amharc ar fhreagraThe Central Bank of Ireland has provided me with the following information specifically regarding the Stop the Harm Principles which are relevant to tracker mortgage related issues.
In this regard the Tracker Mortgage Examination (TME) was designed to ensure that the interests of affected customers were prioritised and protected and including principles for stopping the harm for potentially affected customers.
The “Stop the Harm” principles required lenders to implement controls and/or measures to ensure that potentially impacted customers did not lose possession of their properties during the period from when the potentially relevant issue was identified until the lender satisfied itself that potentially impacted accounts were not in fact impacted by the issue or redress and compensation occurred. The principles remain in force in respect of TME issues.
The Stop the Harm principles are set out in the Central Bank’s Framework for lenders and are available at the following link: www.centralbank.ie/docs/default-source/consumer-hub-library/tracker-issues/appendix3-tracker-mortgage-examination-redress-principles.pdf?sfvrsn=4
The Deputy will note existing and updated protections for consumers under the revised Consumer Code issued by the Central Bank in 2025 which will become effective in Q1 2026. In addition, the Bank has produced Guidance on Securing Customers’ Interest which outlines the Bank’s expectations of firms in meeting their obligations under the Standards for Business to secure customers interests and this is available here
www.centralbank.ie/regulation/consumer-protection/consumer-protection-code/guidance-on-consumer-protection-code-2025.
