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Consumer Credit Directive

Briefing 12-12-2023

Consumer credit is a type of loan allowing consumers to purchase consumer goods and services for which they do not have the funds. It is regulated at national and EU level. The Consumer Credit Directive (CCD), in force since 2008, is the relevant EU-level legislation. While the CCD has undergone several revisions over the past decade, growing digitalisation, insufficient harmonisation and issues affecting consumer protection, among other things, prompted the Commission to propose a new directive. ...

Consumer credit

Pe scurt 06-09-2023

Governing consumer credit at EU level, the Consumer Credit Directive (CCD) has been in force since 2008. The European Parliament is expected to vote in plenary in September on the adoption of an agreement reached by the co-legislators on the Commission's proposal for a new directive to replace the current CCD. The goal is to enhance the protection of applicants for consumer credit and further harmonise the rules across Member States.

Using available data, the AAG examines the practice of granting credit on the legal basis of credit agreements in the form of an overdraft facility and overrunning in the whole EU and, in more depth, in selected Member States. Furthermore, the study analyses the state of consumer protection in the currently valid Consumer Credit Directive on these types of credit agreements and identifies a number of possibilities for future regulations to improve the so far limited protection in this credit sector ...

Using available data, the study examines the practice of granting credit on the legal basis of credit agreements in the form of an overdraft facility and overrunning in the whole EU and, in more depth, in selected Member States. Furthermore, the study analyses the state of consumer protection in the currently valid Consumer Credit Directive on these types of credit agreements and identifies a number of possibilities for future regulations to improve the so far limited protection in this credit sector ...

Consumer Credit

Briefing 04-10-2021

The Commission is proposing a new directive on consumer credits to replace the Consumer Credit Directive of 2008. This initial appraisal of the Commission’s impact assessment on the proposal finds that the impact assessment establishes a logical chain between the problems identified and the policy options considered, which are presented in a clear and balanced way. The options appear to be realistic and feasible, using the existing policy framework as a departure point and offering a range of interventions ...

Directive 2008/48/EC on credit agreement for consumers (the CCD) is part of the legal framework tackling consumer protection and the development of the internal market. Despite improvements in enforcing consumer protection policy, there are shortcomings in particular regarding the scope of application of the directive and the uneven regulatory choices made in the 27 EU Member States for implementing it. Moreover, there are new challenges – such as digitalisation and data collection, use and processing ...

This briefing gives a short introduction into the topic non-performing loans (NPLs), takes stock of the current situation in the euro area, touches on the impact of NPLs on credit supply, and summarises the activities taken at European level to address the problem.

This note, prepared by Policy Department A for the Committee on Economic and Monetary Affairs, gives an overview of five studies on Mis-selling of financial products which were published in June 2018.

This paper is part of a series of five studies on mis-selling of financial products in the EU. Retail financial markets across the EU have been upset by large-scale mis-selling of financial products to consumers. As part of a series of five studies on this topic, this paper examines the problem of mis-selling with a particular focus on consumer credit. It identifies the most problematic products and practices in consumer credit markets that may cause consumer detriment and shows some important limitations ...

This briefing presents the state of play of non-performing loans (NPL) in the euro area, and provides an overview of the various measures implemented across Member States to facilitate their resolution. It also touches upon on-going initiatives at EU level and the debate in the public domain on the suitability of an EU-wide bad bank.