The EIMF Live Online Learning Experience

Participants will receive access to the recorded sessions of the course.

EIMF subject-matter experts deliver engaging and interactive courses across a broad spectrum of areas, that can be enjoyed in the comfort of your own chosen environment. Read more

Course Overview 

Directive 2008/48/EC on credit agreements for consumers (the Consumer Credit Directive), amended in 2011, 2014, 2016 and 2019, established a harmonised EU framework for consumer credit, to facilitate the emergence of a smoothly functioning internal market in consumer credit and provide a high level of consumer protection, thus ensuring consumer confidence.

Since the adoption of the 2008 Directive, digitalisation has profoundly changed the decision-making process and the habits of consumers in general, who now want a smoother and faster process for obtaining credit and often do so online. This also affects the lending sector, progressively becoming digitalised. The COVID-19 crisis and the resulting confinement measures have also disrupted the EU economy and had a major impact on the credit market and consumers. In 2021, the Commission adopted a proposal for a Directive on consumer credits which shall repeal Directive 2008/48. The proposal includes several new provisions concerning, among other, the creditworthiness assessment, arrears and forbearance measures, financial education, conduct of business obligations, caps on interest rates, and advisory services.

Furthermore, during 2021, a Report from the Commission was issued on the review of the Directive 2014/17/EU on credit agreements for consumers relating to residential immovable property (the Mortgage Credit Directive). This report has been prepared under Article 44 MCD, which requires the Commission to review the effectiveness and appropriateness of the provisions on consumers and the internal market, with an emphasis on the experience acquired in applying the Directive.