The Tánaiste and Minister for Finance, Simon Harris TD, has today (3 July) signed into law new rules that will strengthen protections for consumers purchasing financial products or services online or over the phone.

The new rules will ensure consumers:

Speaking today, the Tánaiste said:

“I’m very pleased today to sign into law new rules that will strengthen protections for Irish consumers.

“More and more people are choosing to buy financial products and services online, and consumers should have the same confidence and protections in the digital marketplace as they do in person. These new rules put consumers first and make sure their rights keep pace with how people now access financial services.

“Whether it’s the right to speak to a real person instead of relying solely on an automated system, clearer information before making a decision, or an easier way to cancel an eligible contract, these are practical changes that will make a real difference for consumers.

“Digitalisation has significantly changed the financial services market in Ireland. While the existing financial consumer protection framework is robust, the rules I have signed into law today will ensure that the framework continues to keep pace with the increasingly digitalised financial services landscape and maintains the high level of protections for consumers.”

These new rules have been signed into Irish law by the Tánaiste under the European Union’s Directive 2023/2673 regarding financial services contracts concluded at a distance.