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Central Bank "Price Walking" ban

  • 21-07-2021 9:29pm
    #1
    athlone573
    Registered Users, Registered Users 2 Posts: 724 ✭✭✭


    Today the Central Bank of Ireland report on differential pricing has been released. I've just seen the summary on RTE news and the gist of it was, they will ban "price walking" or penalising loyal customers, but not ban differential pricing completely - they'll still allow new customer discounts.

    This seems a lot weaker than the UK regulations published recently.

    Would anyone care to explain why?



Comments

  • #2
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,363 Mod ✭✭✭✭Jim2007


    Comparing it to the UK is pointless. The UK no longer has as the same regulatory framework work as Ireland you might as well compare it to US or wherever. How does it compare to other Euro group countries that are subject to the ECB, Single Market etc… would be more concerning. Ireland can’t stray far from the rest of the Euro Group.



  • #3
    athlone573
    Registered Users, Registered Users 2 Posts: 724 ✭✭✭athlone573


    I think it's fair to draw comparisons specifically in the area of "conduct risk" I.e. How do firms treat their customers as, the retail markets are quite similar and, the CBI seem to be taking the lead here rather than handing down regulation from EU level. I'm not familiar with how car/home insurance works in mainland Europe.


    Any other thoughts? The paper on the CBI website is interesting and an easy enough read.



  • #4
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,363 Mod ✭✭✭✭Jim2007


    The UK is a third country with a completely different economic profile and regulatory environment, what they do or don’t do is of little interest to me. So I have no motivation to look into it. But perhaps someone else will.

    In any case it’s all a bit like rearranging the deck chairs on the titanic. The insurance business model is fundamentally broken and it is only a matter of time before we find ourselves in the next crisis.



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