- Behaviour and culture assessments currently underway in each of the five main lenders in Ireland, supported by the Dutch Central Bank
- Depending on assessment findings, Central Bank may consider requiring lenders to take a range of actions.
- Central Bank using insights from behavioural economics to prevent “evil nudges’’ that push consumers to make poor choices
The Central Bank of Ireland’s Director General, Financial Conduct, Derville Rowland, today set out mitigating actions the Central Bank could require lenders to take depending on the outcome of behaviour and culture assessments which are currently underway.
Speaking at the European Consumer Protection Conference in Prague, she spoke of how the Tracker Mortgage Scandal had raised serious questions about the culture in our lending institutions and the extent to which the boards and senior management of those institutions are really living up to their promises of putting the customer at the heart of their business.
She sa
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