{"id":28049,"date":"2023-10-07T20:29:12","date_gmt":"2023-10-07T20:29:12","guid":{"rendered":"https:\/\/legalblog.ie\/?p=28049"},"modified":"2023-12-15T08:14:54","modified_gmt":"2023-12-15T08:14:54","slug":"high-cost-credit","status":"publish","type":"post","link":"https:\/\/legalblog.ie\/high-cost-credit\/","title":{"rendered":"High Cost Credit"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_63 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/legalblog.ie\/high-cost-credit\/#Moneylenders_Licensing\" title=\"Moneylenders Licensing\">Moneylenders Licensing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/legalblog.ie\/high-cost-credit\/#Information_to_be_Provided\" title=\"Information to be Provided\">Information to be Provided<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/legalblog.ie\/high-cost-credit\/#Records\" title=\"Records\">Records<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/legalblog.ie\/high-cost-credit\/#Disclosing_Information\" title=\"Disclosing Information\">Disclosing Information<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/legalblog.ie\/high-cost-credit\/#Prohibition_on_Certain_Charges\" title=\"Prohibition on Certain Charges\">Prohibition on Certain Charges<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/legalblog.ie\/high-cost-credit\/#Consumer_Credit_Amendment_Act_2022\" title=\"Consumer Credit \u00a0(Amendment) Act 2022\">Consumer Credit \u00a0(Amendment) Act 2022<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/legalblog.ie\/high-cost-credit\/#High_Cost_Credit_Providers\" title=\"High Cost Credit Providers\">High Cost Credit Providers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/legalblog.ie\/high-cost-credit\/#Licensing\" title=\"Licensing\">Licensing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/legalblog.ie\/high-cost-credit\/#Excessive_Cost\" title=\"Excessive Cost\">Excessive Cost<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/legalblog.ie\/high-cost-credit\/#Term_of_loan_under_high_cost_credit_agreement\" title=\"Term of loan under high cost credit agreement\">Term of loan under high cost credit agreement<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/legalblog.ie\/high-cost-credit\/#Maximum_interest_rates\" title=\"Maximum interest rates\">Maximum interest rates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/legalblog.ie\/high-cost-credit\/#Repayment_Books_Requirements\" title=\"Repayment Books Requirements\">Repayment Books Requirements<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"Moneylenders_Licensing\"><\/span>Moneylenders Licensing<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The Consumer Credit Act applies to moneylenders (now a high-cost credit provider). Moneylenders (now high-cost credit providers) must be licensed by the Central Bank. There are prescribed formats in respect of an application for a moneylending licence. The license authorises the moneylender to operate on such conditions as is specified.<\/p>\n<p>Notice of application for the license must be published and objections may be made and considered by the regulatory authority.\u00a0 The application for moneylender\u2019s licence must be advertised and an opportunity must be given for objection.<\/p>\n<p>The Central Bank may refuse a license on a number of bases including<\/p>\n<ul>\n<li>previous convictions for certain offences,<\/li>\n<li>previous excessive price of credits,<\/li>\n<li>holds a license as a pawnbroker, bookmakers, intoxicating liquors licenses, lottery,<\/li>\n<li>failure to produce tax clearance,<\/li>\n<li>disqualification by court,<\/li>\n<li>not a fit person,<\/li>\n<li>cost of credit to be charged is excessive,<\/li>\n<li>breach of previous licence conditions.<\/li>\n<\/ul>\n<p>The license is valid for 12 months only. The bank maintains a register of license money holders. The license may be revoked or suspended. Conditions may be imposed. The license must be prominently displayed. The restrictions and advertisements in relation to credit mentioned above apply to moneylender (now a high cost credit provider).<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Information_to_be_Provided\"><\/span>Information to be Provided<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Moneylenders must provide their customers with details showing the total cost of credit, rate of interest, collection charge. These provisions are now subject to provisions regarding high-cost credit providers.<\/p>\n<p>The agreement must be prominently labeled with the words \u201cmoneylending agreement. The loan must be made available in full, without deduction for charges or previous accounts due. Increased charges, other than costs are not available save default on repayments.<\/p>\n<p>No charges may be made except collection charges. There are restrictions on the type of collection charges that may be allowed. They must be clearly indicated in amount and give the option of paying at the moneylender\u2019s premises instead. These are limited by other legislation.<\/p>\n<p>If the borrower does not wish to avail of the option of paying at the premises a signed acceptance of the must be stated. Collections may not be collected between 9 pm and 10 am or on Sundays or public holidays.<\/p>\n<p>Repayment Book<\/p>\n<p>A separate repayment book must be provided. It must contain information about the agreement particulars.<\/p>\n<ul>\n<li>amount of credit advanced,<\/li>\n<li>date credit advanced,<\/li>\n<li>repayment installments,<\/li>\n<li>rate of charge including APR,<\/li>\n<li>collection charges if any,<\/li>\n<li>repayment of installments,<\/li>\n<li>notice and method of determination,<\/li>\n<li>total amount payable,<\/li>\n<li>date of expiry.<\/li>\n<\/ul>\n<p>A high cost credit provider shall, in respect of every high cost credit agreement, supply or make available to the borrower, on paper or another durable medium, a book or document (in this section referred to as a &#8220;repayment book\u201d) in which to record repayments made under the agreement, which shall be completed and maintained by the high cost credit provider. It shall be separate from the agreement.<\/p>\n<p>A high cost credit provider shall, in respect of a high cost credit agreement, enter in a repayment book before supplying it to a borrower the following information:<\/p>\n<ul>\n<li>an agreement number or other reference to enable the agreement to be identified,<\/li>\n<li>the name and address of the high cost credit provider<\/li>\n<li>the name and address of the borrower,<\/li>\n<li>the rate of interest to be charged (including the APR expressed as \u20ac per \u20ac100 borrowed) on foot of the credit advanced,<\/li>\n<li>the date the credit is advanced,<\/li>\n<li>the amount of each repayment instalment,<\/li>\n<li>the rate of interest to be charged (including the APR expressed as \u00a3 per \u00a3100 borrowed) on foot of the credit advanced,<\/li>\n<li>the total cost of credit\n<ul>\n<li>in euro, and<\/li>\n<li>as a percentage of the amount borrowed,]<\/li>\n<\/ul>\n<\/li>\n<li>the number of repayment instalments,<\/li>\n<li>the date, or the mode of determining the date, upon which each repayment instalment is payable,<\/li>\n<li>\u00a0the total amount payable in respect of the loan, and<\/li>\n<li>\u00a0the date of expiry of the loan.<\/li>\n<\/ul>\n<p>A repayment book shall also include a record of repayments in the form set out in the Sixth Schedule and in which, on the occasion of each repayment, the person to whom the repayment is made shall enter the following:<\/p>\n<ul>\n<li>the date the repayment is made,<\/li>\n<li>the amount of the repayment,<\/li>\n<li>the amount still outstanding after deduction of the repayment, and<\/li>\n<li>the signature of the person to whom the repayment is made.<\/li>\n<\/ul>\n<p>A high cost credit provider shall,<\/p>\n<ul>\n<li>offer to supply or make available the repayment book to the borrower in a choice of paper and at least one other durable medium, and<\/li>\n<li>supply or make available the repayment book to the borrower in the durable medium chosen by the borrower.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Records\"><\/span>Records<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The format of the book is specified by regulations.<\/p>\n<p>Moneylender (now a high cost credit provider) s must keep certain records. The records must include the following. There must be a record of every agreement including details of parties,<\/p>\n<ul>\n<li>amount of credit advance,<\/li>\n<li>date of advance,<\/li>\n<li>APR,<\/li>\n<li>collection charge,<\/li>\n<li>installments,<\/li>\n<li>total charges,<\/li>\n<\/ul>\n<p>The records must be retained for at least 5 years<\/p>\n<p>A high cost credit provider shall, in respect of every high cost credit agreement, made after the commencement of this section, to which the provider is a party, keep a record of the agreement which shall include the following information:<\/p>\n<ul>\n<li>the agreement number or other reference to identify the agreement,<\/li>\n<li>the name and address of the borrower,<\/li>\n<li>the amount of the credit advanced under the agreement,<\/li>\n<li>the date the credit is advanced,<\/li>\n<li>the amount of each repayment instalment,<\/li>\n<li>the rate of interest charged including the APR,<\/li>\n<li>the amount of each collection charge (if any),<\/li>\n<li>the number of instalments,<\/li>\n<li>the total amount payable in respect of the loan, and<\/li>\n<\/ul>\n<p>The following must e shown in respect of each repayment\u2014<\/p>\n<ul>\n<li>the date the repayment is made,<\/li>\n<li>the amount of the repayment,<\/li>\n<li>the amount still outstanding after deduction of the repayment, and<\/li>\n<li>the name of the person to whom the repayment is made.<\/li>\n<\/ul>\n<p>A high cost credit provider shall retain a record or a period of not less than 5 years after the final repayment instalment under the agreement.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Disclosing_Information\"><\/span>Disclosing Information<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Neither a high cost credit provider nor the person acting on its behalf may divulge to a person other than an authorised person any of the contents of records kept by the provider.<\/p>\n<p>The following persons are authorised<\/p>\n<ul>\n<li>the borrower or an agent of the borrower;<\/li>\n<li>the Bank, a Director of the Bank, an employee of the Bank, a delegate of the Bank or a member, officer or employee of such a delegate;<\/li>\n<li>a court or an officer of a court.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Prohibition_on_Certain_Charges\"><\/span>Prohibition on Certain Charges<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A high cost credit provider shall not make or attempt to make an agreement with a borrower who has borrowed or intends to borrow credit from that high cost credit provider for any\u2014<\/p>\n<ul>\n<li>sum,<\/li>\n<li>account of costs,<\/li>\n<li>charges,<\/li>\n<li>collection charges, or<\/li>\n<li>expenses,incidental to or relating to the negotiations for, or the granting of, the loan.<\/li>\n<\/ul>\n<p>If any sum is paid by a borrower who has borrowed or intends to borrow credit from a high cost credit provider for or on account of such costs, charges or expenses that sum shall be recoverable as a debt due to the borrower, or in the event of the loan being completed, shall, if not so recovered, be set off against the amount actually lent and that amount shall be deemed to be reduced accordingly.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Consumer_Credit_Amendment_Act_2022\"><\/span>Consumer Credit \u00a0(Amendment) Act 2022<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\u201c \u2018high cost credit\u2019 means credit supplied by a high cost credit provider to a consumer on foot of a high cost credit agreement;<\/p>\n<p>\u2018high cost credit agreement\u2019 means a credit agreement into which a high cost credit provider enters, or offers to enter, with a consumer in which one or more of the following apply:<\/p>\n<ul>\n<li>the agreement was concluded away from the business premises of the high cost credit provider or the business premises of the supplier of goods or services under the agreement;<\/li>\n<li>any negotiations for, or in relation to the credit were conducted at a place other than the business premises of the high cost credit provider or the business premises of the supplier of goods or services under the agreement;<\/li>\n<li>repayments under the agreement will, or may, be paid by the consumer to the high cost credit provider or the representative of the high cost credit provider at any place other than the business premises of the high cost credit provider or the business premises the total cost of credit to the consumer under the agreement is in excess of an APR of 23 per cent, or such other rate as may be prescribed;<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"High_Cost_Credit_Providers\"><\/span>High Cost Credit Providers<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\u2018high cost credit provider\u2019 means a person who engages in the provision of high cost credit, or who advertises or announces themselves or holds themselves out in any way as engaging in the provision of high cost credit, but does not include\u2014<\/p>\n<ul>\n<li>any pawnbroker in respect of business carried on by the pawnbroker in accordance with the provisions of the Pawnbrokers Act 1964,<\/li>\n<li>a society which is registered as a credit union under the Credit Union Act 1997,<\/li>\n<li>a registered society within the meaning of the Friendly Societies Acts 1896 to 2021,<\/li>\n<li>a credit institution,<\/li>\n<li>a person who supplies money for the purchase, sale or hire of goods at an APR which is less than or equal to 23 per cent (or such other rate as may be prescribed), or<\/li>\n<li>a mortgage lender;<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Licensing\"><\/span>Licensing<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The Bank may grant to an applicant a high cost credit provider\u2019s licence authorising the applicant to engage in the provision of high cost credit on such terms and conditions as it thinks fit, but only after considering all objections made in respect of the application. A person who intends to apply for a high cost credit provider\u2019s licence shall before making such application cause to be published, in a national newspaper published and circulating in the State, a notice of the person\u2019s intention.\u201d,<\/p>\n<p>A high cost credit provider\u2019s licence shall be valid for 5 years from the date of the grant of the licence<\/p>\n<p>Where<\/p>\n<ul>\n<li>the applicant has failed to satisfy the Bank that the applicant is, or will be, able to comply with any requirement imposed on the holder of a licence by, or under, this Part or any other provision of financial services legislation,<\/li>\n<li>the applicant has failed to satisfy the Bank that the applicant conducts or will conduct the applicant\u2019s business in such a manner as to ensure the protection of the applicant\u2019s customers, or<\/li>\n<li>the applicant has failed to satisfy the Bank that the applicant complies with any other requirement, compliance with which is considered necessary by the Bank in order to ensure\u2014\n<ul>\n<li>the proper and orderly regulation and supervision of the provision of high cost credit, or<\/li>\n<li>the protection of the applicant\u2019s \u201d,<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>The Bank may\u2014<\/p>\n<ul>\n<li>suspend or revoke a high cost credit provider\u2019s licence, or<\/li>\n<li>vary the terms or conditions of a high cost credit provider\u2019s licence,<\/li>\n<\/ul>\n<p>Where the Bank is satisfied that, since becoming the holder of a high cost credit provider\u2019s licence\u2014<\/p>\n<ul>\n<li>the high cost credit provider, or any business with which the high cost credit provider is connected, has been convicted of an offence for contravening section 98,<\/li>\n<li>the high cost credit provider has become the holder of a licence referred to in subsection (10)(c),<\/li>\n<li>the high cost credit provider has failed to comply with any of the terms or conditions of the licence, or<\/li>\n<li>the high cost credit provider has failed to comply with or is failing to comply with any condition or requirement imposed by, or under, this Act or any other financial services legislation.\u201d,<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Excessive_Cost\"><\/span>Excessive Cost<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>For these purposes a proposed total cost of credit shall be excessive where the interest rate for a loan to which the total cost of credit relates would exceed\u00a0in the case of a loan (other than a running account)\u2014<\/p>\n<ul>\n<li>the maximum rate of interest standing prescribed<\/li>\n<li>the maximum rate of interest standing prescribed and<\/li>\n<\/ul>\n<ul>\n<li>in the case of a running account, the maximum rate of interest standing prescribed in each case, at the time the application is \u201d.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Term_of_loan_under_high_cost_credit_agreement\"><\/span>Term of loan under high cost credit agreement<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A high cost credit provider shall not grant a loan whose term exceeds 52 weeks. This does not apply to\u2014<\/p>\n<ul>\n<li>a loan granted under a high cost credit agreement that is entered into before the date on which the <em>Consumer Credit (Amendment)Act 2022 <\/em>comes into operation, or<\/li>\n<\/ul>\n<ul>\n<li>a running account under a high cost credit \u201d.<\/li>\n<\/ul>\n<p>A high cost credit provider shall ensure that a high cost credit agreement entered into after the date on which the <em>Consumer Credit (Amendment) Act 2022 <\/em>comes into operation, and to which the high cost credit provider is a party,shall contain in a prominent position the words \u2018High cost credit agreement\u2019.\u201d.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Maximum_interest_rates\"><\/span>Maximum interest rates<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A high cost credit provider shall not charge interest, under a high cost credit agreement, at a rate which exceeds a maximum rate of interest prescribed and applicable to the agreement.<\/p>\n<p>The Minister shall prescribe the following:<\/p>\n<p>in respect of a loan (other than a running account) under a high cost credit agreement\u2014<\/p>\n<ul>\n<li>the maximum rate of simple interest chargeable per week (being a rate less than or equal to one per cent), and<\/li>\n<li>the maximum rate of simple interest chargeable per year (being a rate less than or equal to 48 per cent);<\/li>\n<\/ul>\n<p>in respect of a running account under a high cost credit agreement, the maximum rate of nominal monthly interest chargeable on an outstanding balance (being a rate less than or equal to 2.83 per cent).<\/p>\n<p>A maximum rate of interest prescribed under this section shall apply to a high cost credit agreement entered into\u2014after the date on which the regulations, by which the rate is prescribed, come into operation, and on or before the date, if any, on which the regulations next made under this section come into operation.<\/p>\n<p>The Minister shall consult with the Bank before making regulations. The Minister shall have regard to the following when making regulations:<\/p>\n<ul>\n<li>the impact of the regulations on competition in the high cost credit sector;<\/li>\n<li>the impact of the regulations on the supply of credit in the high cost credit sector;<\/li>\n<li>the average rates of interest offered to customers in the high cost credit sector and any trends in such interest rates;<\/li>\n<li>where setting the proposed rate would reduce the supply of credit in the high cost credit sector, the impact of such a reduction on financial inclusion.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Repayment_Books_Requirements\"><\/span>Repayment Books Requirements<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A high cost credit provider shall, in respect of every high cost credit agreement, supply or make available to the borrower, on paper or another durable medium, a book or document (in this section referred to as a \u2018repayment book\u2019)\u2014<\/p>\n<ul>\n<li>in which to record repayments made under the agreement,<\/li>\n<li>which shall be completed and maintained by the high cost credit provider in accordance with this section, and<\/li>\n<li>which shall be separate from the \u201d,<\/li>\n<\/ul>\n<p>A high cost credit provider shall, offer to supply or make available the repayment book to the borrower in a choice of paper and at least one other durable medium, and<\/p>\n<ul>\n<li>supply or make available the repayment book to the borrower in the durable medium chosen by the borrower.<\/li>\n<\/ul>\n<p>Durable medium\u2019 means any medium that enables a person to store information in a way that renders it accessible to the borrower for future reference for a period of time adequate for the purposes of the information and allows the unchanged reproduction of the information.\u201d.<\/p>\n<p>Limits on Certain Costs<\/p>\n<p>A high cost credit provider shall not make or attempt to make an agreement with a borrower who has borrowed or intends to borrow credit from that high cost credit provider for any\u2014<\/p>\n<ul>\n<li>sum,<\/li>\n<li>account of costs,<\/li>\n<li>charges,<\/li>\n<li>collection charges, or<\/li>\n<li>expenses,<\/li>\n<\/ul>\n<p>incidental to or relating to the negotiations for, or the granting of, the loan.<\/p>\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-28049\" data-postid=\"28049\" class=\"themify_builder_content themify_builder_content-28049 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->\n","protected":false},"excerpt":{"rendered":"<p>Moneylenders Licensing The Consumer Credit Act applies to moneylenders (now a high-cost credit provider). Moneylenders (now high-cost credit providers) must be licensed by the Central Bank. There are prescribed formats in respect of an application for a moneylending licence. The license authorises the moneylender to operate on such conditions as is specified. Notice of application [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[386],"tags":[],"_links":{"self":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/28049"}],"collection":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/comments?post=28049"}],"version-history":[{"count":8,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/28049\/revisions"}],"predecessor-version":[{"id":30274,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/28049\/revisions\/30274"}],"wp:attachment":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/media?parent=28049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/categories?post=28049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/tags?post=28049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}