Consumer and SME Credit Law
Ebook
With 2000+ pages of guidance, this important new textbook provides an extensive and in-depth guide to the current labyrinthine regulatory regime relating to consumer and SME credit (by way of cash loans) and protection generally, including the Consumer Protection Code, the Consumer Credit Act (housing loans and non-housing loans), the EU Consumer Credit Regulations, the EU Mortgage Credit Regulations and the Central Bank Housing Loan Regulations.
Other lending-related conduct of business requirements are also covered in detail, including the Code of Conduct on Mortgage Arrears, the Lending to SME Regulations, the Code on Related Parties Lending and the Credit Reporting Act, together with applicable EBA/ECB Guidelines dealing with loan origination, product oversight and governance, non-performing exposures/loans and arrears. The regulated activities triggering authorisation as a retail credit firm or credit servicing firm are also addressed in detail.
The book additionally extends beyond lending to have application to the wider business of regulated firms in the financial services arena, dealing in detail with issues including the general principles and requirements of the Consumer Protection Code,the fitness and probity regime including the area of minimum competency, distance marketing requirements and other background to the regulatory regime in Ireland including the increased regulatory focus on the culture of regulated firms and product oversight and governance.
The available redress/recourse mechanisms are also covered, including the Financial Services and Pensions Ombudsman, the Credit Review Office, the regulatory and other consequences of breach of applicable requirements and the significant risk management area for regulated firms of their customers' statutory right to redress on breach of financial services legislation.
In addition, the book has relevance to professionals dealing with consumers in any contractual context including extensive treatment of how the concept of 'consumer' has developed under common law, the unfair commercial practices regime and the increasingly topical area of unfair contract terms legislation.
Relevant case law of the Irish courts and other common law jurisdictions, together with an expanding corpus of decisions from the CJEU, are addressed in detail.
This book's practical style is designed to assist bankers, other regulated firms, lawyers, compliance professionals and regulators in the application of a complex area. Rather than simply setting out the separate requirements, the book seeks to navigate the at times contradictory legislative and regulatory strands to give (in so far as is possible) a coherent sense of how they integrate.
Much of the content is unique and cannot be found in any other publication.
An essential addition to the library of every lender, practitioner and compliance and regulatory risk professional, particularly in the areas of consumer and SME credit.
This title is included in Bloomsbury Professional's Irish Banking and Finance Law online service.
Provides an extensive guide to the current regulatory regime relating to consumer and SME credit and protection generally, including the Consumer Protection Code, the Consumer Credit Act (housing loans and non-housing loans), the EU Consumer Credit Regulations, the EU Mortgage Credit Regulations and the Central Bank Housing Loan Regulations.
In-depth guide to complex regulatory issues
Unique content not covered in other publications
Practical, clear style to guide practitioners through the regulatory maze
Unique and thorough treatment of EU credit regulations integrated with national legislation and Codes so that the reader is informed as to the net position rather than having to work it out for him/herself by navigating reams of separate requirements.
Includes introductory Chapter setting out the primary credit-related customer-facing conduct of business requirements applicable to 8 specific consumer credit scenarios (eg, secured on real property or unsecured; pre or post particular dates) and 3 business lending scenarios.
Exhaustive treatment of:
* Consumer Protection Code (dealt with over 5 Chapters; 750 pages);
* SME Regulations 2015 (180 pages) including application of the Consumer Protection Code to business lending;
* Credit Reporting Act dealing with practical application of the Act and detailed consideration of lengthy guidance issued by Central Bank in relation to the practical operation of the Central Credit Register;
* the increasingly topical area of Unfair Contract Terms Regulations (200 pages) and the proposed impact of the Scheme of Consumer Rights Bill 2021.
Detailed treatment of the interpretation under common law of the concept of consumer (over 60 pages), including consideration of Irish, English and EU case law on the topic.
Extensive consideration of the impact of the statutory entitlement (under s 44 of the Central Bank (Supervision and Enforcement Act) 2013) of customer to sue regulated firm for any breach of financial services legislation: extremely wide and an significant risk area for regulated firms.
Detailed treatment of practical application of EBA guidelines and reports in relation to matters including loan origination, product oversight and governance of retail banking products, non-performing exposures, arrears and complaints handling; also covers ECB non-performing loan guidance.
Accuracy
Chapter 1 Acts, Statutory Instruments, Codes and Guidelines relevant to Consumer and SME Credit
Chapter 2 Consumer Credit Act 1995 – Cash Loans (other than Housing Loans)
Chapter 3 Consumer Credit Regulations 2010
Chapter 4 Unfair Contract Terms Regulations 1995
Chapter 5 Regulation of Mortgage Lending
Chapter 6 Code of Conduct on Mortgage Arrears
Chapter 7 Background to and Regulatory Consequences of Breach of the Consumer Protection Code
Chapter 8 Consumer Protection Code: Scope and General Principles (CPC 2012, Chapters 1 and 2)
Chapter 9 Consumer Protection Code: General Requirements (CPC 2012, Chapter 3)
Chapter 10 Consumer Protection Code: Provision of Information, 'Knowing the Consumer' and Suitability (CPC 2012, Chapters 4, 5 and 6)
Chapter 11 Consumer Protection Code: Arrears, Advertising, Errors and Complaints and Records and Compliance (CPC 2012, Chapters 8–11)
Chapter 12 Regulation of Business Lending
Chapter 13 Credit Reporting Act 2013
Chapter 14 Financial Services and Pensions Ombudsman
Chapter 15 Consumer Protection Act 2007 and Distance Marketing Regulations 2004
Chapter 16 Redress on Regulatory Breach and Enforceability of Contracts affected by Illegality
The book is truly exhaustive and sagacious resource... The breadth and depth of its covering as well as its forward-looking perspective, practical outlook, and comparative analysis are the biggest strengths of the book. The book is an important contribution to the field and is destined to become one of the leading references for many years to come.
... an ambitious, thoroughly researched publication that distils the complex regulatory environment for Irish consumer and SME lending into a single, accessible reference work. That Ms. Beausang achieves this in such a comprehensive yet accessible manner is demonstrative of the vast research and insight devoted to this excellent and timely book. The book fills a gap in the Irish market for a modern and comprehensive consideration of this area of law …truly peerless and will reward anyone that invests time in reading it.
…. excellent …. we are fortunate that, in Consumer and SME Credit Law, Ms Beausang has provided us with a substantial ball of string to help us find our way around the labyrinth: this is a weighty tome extending to 2,362 pages. It is replete with useful information and analysis, especially to explain the often-complex interrelationships between the legislative and regulatory provisions relevant to consumer and SME credit …There is no near-term prospect of simplification of the law in this area but Ms Beausang's work certainly makes a valuable contribution to understanding its intricacies.
This dedicated consumer protection and SME credit-law text is an excellent resource, and is a welcome addition to banking-law publications … an ideal resource for practitioners advising consumers and SME-sector clients.
“[A] wonderful new book … [which] makes a real and valuable contribution to the Irish literature in the depth of research brought to every area within the book's scope …. this text will be a landmark in its field for years to come.”
"Consumer and SME Credit Law …. will, I expect, quickly become an essential purchase for the many lawyers whose practices touch on the issue of consumer/SME credit law. For the busy judge dealing with summary debt applications, it will doubtless become a definitive guide on the applicable law, offering a trustworthy work on which to ground judgment …. a remarkable work …. I have no doubt that it will influence many judges in their decision-making (and many lawyers in the advice they tender) in the years ahead."
"These issues and much, much else besides have been analysed with great care and sophistication by Ms Beausang. One can only pay tribute to the enormous scholarship and erudition displayed in this book."
- Title: Consumer and SME Credit Law
- Author: Nora Beausang
- Publisher: Bloomsbury Professional
- Print Publication Date: 2021
- Logos Release Date: 2024
- Language: English
- Resources: 1
- Format: Digital › Ebook
- ISBNs: 9781526515889, 1526515881
- Resource ID: LLS:9781526515889
- Resource Type: Monograph
- Metadata Last Updated: 2024-05-15T09:25:30Z
Nora Beausang, BCL (NUI) (First Class Hons) Solicitor (IRL and NZ) practised banking and regulatory law in McCann FitzGerald and King & Wood Mallesons (Sydney) for ten years. Her inhouse experience includes the role of Head of Legal and Regulatory Risk and Compliance for over six years in the Corporate Banking division of a major international bank.