In this FIS Horizons 2024 podcast, Hogan Lovells Associate Hannah Vero talks about the upcoming changes to the EU consumer credit legislative framework, specifically the introduction of the Second Consumer Credit Directive ((EU) 2023/2225) (CCD II), beginning with an overview of the current Consumer Credit Directive (2008/48/EC) and the rationale for the genesis of CCD II. Hannah then goes on to look at changes in scope under CCD II, as well as some of the more technical changes that will impact how credit providers enter into credit agreements with consumers.
EU Second Consumer Credit Directive: Changes ahead for credit providers
CCD II came into force on 19 November 2023. Member states now have until 20 November 2025 to adopt and publish the laws, regulations and administrative provisions necessary to comply with CCD II, and the implementing measures will have to be applied 12 months from the transposition date, ie 20 November 2026.
If you would like to hear more or have any particular issues in relation to anything discussed during the podcast, please get in touch with one of the people listed above or your usual Hogan Lovells contact.
Authored by Hannah Vero and Virginia Montgomery.
EU consumer credit legislation in the digital era: Council of EU adopts CCD II
Financial Institutions Horizons 2024
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