New Consumer Credit Directive – table of contents

DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL ON CONSUMER CREDIT (10/18/2023)

1 – General provisions

(a) scope of application

(b) definitions

2 – Pre-contractual information obligations

(a) advertising and marketing

(b) catalog of pre-contractual information and rules for its provision

(c) personalized offers based on automated data processing

3 – Cross-selling and upselling, additional services, consulting services and unsolicited credit sales

(a) cross-selling and upselling

(b) consulting services

(c) ban on unsolicited credit sales

4 – Assessment of creditworthiness and access to databases

(a) obligation to conduct a creditworthiness assessment

(b) databases

5 – Form and content of credit agreements

(a) requirements concerning the form of the agreement

(b) information to be included in the credit agreement

6 – Amendments to the credit contract and changes to the borrowing rate

7 – Overdrafts and overruns

8 – Withdrawal, termination and early repayment

(a) right of withdrawal

(b) linked credit agreements

(c) agreement for revolving credit or revolving community loan services

d) early repayment

9 – APR and caps of interest rates and costs

10 – Business obligations and personnel requirements

11 – Financial education and assistance to consumers experiencing financial difficulties

12 – Lenders and credit brokers

(a) registration and supervision of non-credit institutions

(b) obligations of credit brokers

13 – Transfer of rights and settlement of disputes

14 – Competent authorities

15 – Final provisions

(a) maximum harmonization

(b) mandatory nature of the Directive’s provisions

(c) penalties

(d) 24-month period of implementation from the entry into force of the Directive