Modernizing Consumer Credit Protection

by name voted on 12.09.2023

Summary

A new EU directive to modernize consumer credit rules, covering digital products like 'Buy Now Pay Later' and enhancing protections against over-indebtedness.

9 12.09.2023

Other

economy

finance

civil law

social policy

administrative law

public administration

business and competition

information technology and data processing

Key points

The directive expands the scope of consumer protection to include new digital products like 'Buy Now Pay Later' and crowdfunding services.
Leasing agreements without a mandatory purchase option are now included under the regulation.
Lenders must perform thorough creditworthiness assessments using only necessary and proportionate financial data.
The use of sensitive personal data, such as health information or social media activity, is prohibited for credit scoring.

Vote

PPE

S&D

Renew

Verts/ALE

ECR

ID

NI

The Left

Total

Speeches

21 Speeches in total

Pro

Contra

Lefteris NIKOLAOU-ALAVANOS

Lefteris NIKOLAOU-ALAVANOS

NI

1:13 min

21. Consumer credits ***I (debate)

Tomislav SOKOL

PPE

1:45 min

21. Consumer credits ***I (debate)

Documents (PDFs)

REPORT on the proposal for a directive of the European Parliament and of the Council on consumer credits Consumer credits

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