EU Consumer Credit Directive

Use the FlexFinance Lending solution to integrate the EU Consumer Rights Regulations into your lending operations

The European Union has amended the regulations for consumer loans with the Directive 2008/48/EC and has repealed the Directive 87/102/EEC. The objective is to standardise the allocation procedure for consumer loans, protect consumer rights better and standardise competitive conditions within the European Union.

The region of application for the EU Directive is restricted. It generally applies to consumer loan contracts.

However, there are some exceptions including:

• Real estate loans or loans secured by a mortgage
• Rental or leasing agreements
• Lending agreements without interest and charges or agreements with low charges and a maximum term of 3 months
• …

The covered lending amounts are also defined as "above 200 Euros and below 75 000 Euros" in Directive 2008/48/EC Article 2 Section 2 Sub-section d).