On 7 August 2024, the European Banking Authority (EBA) published a report setting out its findings following a fact finding exercise on the creditworthiness assessment (CWA) practices of non-bank lenders.
Fact finding
Working with Member State competent authorities and a sample of 125 non-bank lenders, and using a reference period between
On 9 November 2023, the European Banking Authority (EBA) published a consultation paper on draft guidelines on complaints-handling of credit servicers under Directive (EU) 2021/2167 on credit servicers and credit purchasers (otherwise known as the NPL Directive).
The main purpose of the NPL Directive is to foster the development of secondary markets for
On 9 November 2023, the European Banking Authority (EBA) published a consultation paper on draft guidelines on complaints-handling of credit servicers under Directive (EU) 2021/2167 on credit servicers and credit purchasers (otherwise known as the NPL Directive).
The main purpose of the NPL Directive is to foster the development of secondary markets for
On 30 October 2023, there was published in the Official Journal of the European Union (OJ) Directive (EU) 2023/2225 of the European Parliament and of the Council of 18 October 2023 on credit agreements for consumers and repealing the Consumer Credit Directive.
The Directive enters into force on the twentieth day following its
On 9 October 2023, the European Council adopted the revised Consumer Credit Directive (CCD II).
The CCD II repeals and replaces the current 2008 directive in consumer credit agreements. In particular, the CCD II aims to ‘promote responsible and transparent practices by all players involved in consumer credit,’ and promotes responsible and transparent
On 2 December 2022, the European Commission announced that it welcomed the provisional political agreement reached between the European Parliament and the Council on the proposed revised Consumer Credit Directive. The European Parliament and the Council now need to formally adopt the political agreement.
On 12 July 2022, the European Parliament published compromise amendments on the draft report on the Proposal for a Directive of the European Parliament and of the Council on consumer credits. Overall, MEPs want better protection for consumers applying for loans online. The new EU rules aim at protecting consumers online from credit card debt,
On 23 June 2020, the European Commission published a roadmap concerning a review of the Consumer Credit Directive (CCD).
Following a REFIT Platform opinion recommending an assessment of the relevance, effectiveness and efficiency of the standard information to be included in advertising concerning credit agreements, the Commission evaluated the CCD in 2018-2019. The
On 19 February 2019, the Bank of Italy published a communication (the “Communication”) addressed to UK-based banks, payment institutions and e-money institutions operating in Italy under a branch or services passport as well as by availing themselves of a network of agents (the “UK Intermediaries”).
The Communication – transmitted individually to UK
On 24 January 2019, the Ministry of Economic and Finance issued a press release to inform the market that the Italian Government is preparing the necessary measures to ensure the continuity of markets and intermediary business should a hard Brexit occur (i.e. exit with no deal). The press release is available at this link (in