New Consumer Credit Directive – FAQ
- We intend to offer a product under the BNPL mode, which will be interest free and will not entail any fees to the consumer. Will the new Consumer Credit Directive apply to such a product?
- Yes, the new Consumer Credit Directive assumes further extension of the scope of the regulation to include loans and credits that were previously outside the scope of Directive 2008/48/EC, including, among other things, interest-free loans with no fees under the BNPL model.