The European Commission has published an evaluation roadmap of the Consumer Credit Directive (CCD). The evaluation of the CCD is expected to conclude in 2019.
The evaluation will gather evidence regarding the functioning of the CCD in its totality and in particular, regarding the following aspects:
- design and distribution phases of credit products;
- cross-selling of credits with other financial products;
- creditworthiness assessment;
- credit registers;
- information disclosure;
- rights of withdrawal; and
- right of early repayment.
The evaluation will also cover elements of national regulatory practices that may be of relevance in a cross-border context but not currently covered by the CCD, including for example rules on usury or predatory lending and authorisation and supervisory requirements.
The deadline for feedback on the evaluation roadmap is 27 July 2018.
The Commission will issue a public consultation questionnaire by the end of 2018 for a minimum period of 12 weeks. In parallel, a targeted consultation will also be conducted. The main stakeholders to be consulted will include national authorities (including consumer protection bodies), credit providers, industry associations and consumer organisations. A synopsis report of the consultation will be published on the Commission’s website, tentatively by Spring 2019.