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 12 June 2023, the draft legislative proposal for the implementation of the Non-Performing Loans Directive (Directive (EU) 2021/2167, the NPL Directive) has been published for public consultation (the Legislative Proposal). The NPL Directive sets out a common EU framework and requirements for credit (loan) servicers and purchasers, including NPL investors.
The Legislative
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 7 June 2019, the Dutch Minister sent the Amendment Decree Financial Markets 2019 (Wijzigingsbesluit financiële markten 2019, the Amendment Decree) to the Dutch Parliament (Tweede Kamer) and the Dutch Senate (Eerste Kamer).
Among other things, the Amendment Decree will amend the Decree on Conduct of Business Supervision