A Third Directive on Consumer Credit

Abstract

The recently adopted Consumer Credit Directive incorporates new forms of credit and uses classic consumer protection instruments as well as introducing measures that increase control over lenders with the aim of preventing over-indebtedness. In general, more burdens are imposed on lenders and certain commercial practices are banned or restricted in all Member States. Moreover, the Directive is characterised by the fact that it includes consumer data protection and specifies consumers’ right not to be discriminated against, which may have some overlap with the General Data Protection Regulation and the on-going development of EU artificial intelligence legislation.