IMCO report on the proposal for a Directive on Consumer Credits

 

At its meeting of 11 - 12 July 2022, IMCO will vote on its draft report on the Consumer Credits Directive by Rapporteur Ms. Konecna (THE LEFT). A total number of 950 amendments have been tabled by Members (808 in IMCO, plus 142 amendments included in the opinion of the ECON committee).

The new directive on Consumer Credits is expected to foster the deepening of the internal market for credit services to citizens by clarifying the legal framework to be put in place by Member States. The directive will set the basis for defining how the advertising of these lending products to individual consumers may be done, which is the appropriate level of pre-contractual information that has to be provided to potential borrowers, or how the lenders are expected to perform creditworthiness assessments before granting credits to individual consumers.