In September 2023, Parliament approved new rules on consumer credits, which aim to update Directive 2008/48/EC. These changes come in response to challenges such as digitalization and consumer over-indebtedness. These new rules stipulate a series of requirements, such as an adequate assessment of consumers’ creditworthiness, limitation of charges and a 14-day unconditional right of withdrawal. In addition, credit advertising must be more responsible. The new rules now cover credit agreements up to €100,000.00, and Member States can adapt the upper limit according to the circumstances observed in the internal orders of each Member State.


The Proposal for a Directive on consumer credit is available here.