The Commission’s review of the 2008 Directive found that it had not kept pace with emerging consumer credit products, consumer behavior, and technological developments. This, coupled with imprecise wording of certain provisions, had led to Member States adopting diverging approaches, resulting in a highly fragmented regulatory framework across the EU in a number of aspects of consumer credit. It was clear that a new Directive would be required to tackle these issues.
Hannah Vero, Hogan Lovells

EU Second Consumer Credit Directive: Changes ahead for credit providers



Next steps

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.

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