On 9 June 2022, the Council of the EU issued a press release stating that it had adopted its general approach on the proposed revision of the Directive on consumer credit.

Among other things the Council’s press release notes:

  • The Council proposes to exclude from the scope of the revised directive crowdfunding and, under certain conditions, deferred payment as well as deferred debit cards. Rental or leasing contracts without an obligation or option to buy the property are also excluded.
  • For certain of the less risky credit products that now fall within the scope of the revised directive, the Council’s mandate suggests an optional partial derogation from certain provisions.
  • The Council proposes to merge the pre-contractual information forms that are presented to consumers.

A note from Permanent Representatives Committee to Council regarding the general approach has also been published.