Banks dig heels in on cold-calling restrictions
BANKS are insisting on the right to call customers at night and weekends despite attempts to protect consumers from cold-calling.
As telecommunications giants UPC and Vodafone were fined this week for sending unsolicited messages to customers, financial institutions were opposing new consumer protection measures that would limit the times and reasons for cold-calling customers.
The Central Bank has proposed stringent restrictions on all unsolicited visits or telephone calls to consumers in its draft new Consumer Protection Code.
It also wants to ban unsolicited contact after 7pm and at weekends, unless it is to protect customers from fraud.
However, the Irish Banking Federation (IBF) and the Bank of Ireland (BoI) opposed this proposal in submissions to the Central Bank.