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EU - Evaluation of the Consumer Credit Directive CONSULTATION
Not a clue where we will be by the time this consultation closes EU wise but for interest.... ( OpenPublicConsultationCCDEvaluation_14_01_2019_EN.pdf )
https://ec.europa.eu/info/law/better...onsultation_en
https://ec.europa.eu/info/law/better...onsultation_en
The Directive guarantees consumers the right to withdraw from the credit contract within 14 days, the right to early repayment of the credit, and imposes on credit providers an obligation to perform a creditworthiness assessment prior to the conclusion of the agreement. It also ensures that all consumers across the European Union receive standard, easily comparable pre-contractual information regarding the main features of credit offers.
Since 2008, the market has significantly evolved and several other EU pieces of legislations have been adopted in the different fields –also relevant for the provision of consumer credit- like mortgages, data protection, anti-money laundering and payment services.
Ten years after its adoption, the European Commission is therefore launching a second Evaluation to assess whether the Directive is still fit for purpose given all the market developments that have occurred since 2008. In doing so, the Commission will be able to gauge the relevance, effectiveness, efficiency, coherence and EU added value of the Directive.
Since 2008, the market has significantly evolved and several other EU pieces of legislations have been adopted in the different fields –also relevant for the provision of consumer credit- like mortgages, data protection, anti-money laundering and payment services.
Ten years after its adoption, the European Commission is therefore launching a second Evaluation to assess whether the Directive is still fit for purpose given all the market developments that have occurred since 2008. In doing so, the Commission will be able to gauge the relevance, effectiveness, efficiency, coherence and EU added value of the Directive.
