Directive 2008/48/EC (Consumer Credit Directive) — credit agreements for consumers

Current as of 23 April 200832 provisions

Ask about this law Official text on eur-lex.europa.eu

Provisions

56 in the library

Find a provision

["CHAPTER VII", "IMPLEMENTING MEASURES", "Article 26"]
Information to be supplied to the Commission
Information to be supplied to the Commission Where a Member State makes use of any of the regulatory choices referred to in Article 2(5) and 2(6), Article…
["CHAPTER VIII", "TRANSITIONAL AND FINAL PROVISIONS", "Article 32"]
Addressees
Addressees This Directive is addressed to the Member States.
["CHAPTER III", "DATABASE ACCESS", "Article 9"]
Database access
Database access 1. Each Member State shall in the case of cross-border credit ensure access for creditors from other Member States to databases used in that…
["CHAPTER IV", "INFORMATION AND RIGHTS CONCERNING CREDIT AGREEMENTS", "Article 18"]
Overrunning
Overrunning 1. In the case of an agreement to open a current account, where there is a possibility that the consumer is allowed an overrun, the agreement shall…
["CHAPTER II", "INFORMATION AND PRACTICES PRELIMINARY TO THE CONCLUSION OF THE CREDIT AGREEMENT", "Article 4"]
Standard information to be included in advertising
Standard information to be included in advertising 1. Any advertising concerning credit agreements which indicates an interest rate or any figures relating to…
["CHAPTER IV", "INFORMATION AND RIGHTS CONCERNING CREDIT AGREEMENTS", "Article 10"]
Information to be included in credit agreements
Information to be included in credit agreements 1. Credit agreements shall be drawn up on paper or on another durable medium. All the contracting parties shall…
["CHAPTER II", "INFORMATION AND PRACTICES PRELIMINARY TO THE CONCLUSION OF THE CREDIT AGREEMENT", "Article 5"]
Pre-contractual information
Pre-contractual information 1. In good time before the consumer is bound by any credit agreement or offer, the creditor and, where applicable, the credit…
["CHAPTER IV", "INFORMATION AND RIGHTS CONCERNING CREDIT AGREEMENTS", "Article 14"]
Right of withdrawal
Right of withdrawal 1. The consumer shall have a period of 14 calendar days in which to withdraw from the credit agreement without giving any reason. That…
["CHAPTER II", "INFORMATION AND PRACTICES PRELIMINARY TO THE CONCLUSION OF THE CREDIT AGREEMENT", "Article 8"]
Obligation to assess the creditworthiness of the consumer
Obligation to assess the creditworthiness of the consumer 1. Member States shall ensure that, before the conclusion of the credit agreement, the creditor…
["CHAPTER VIII", "TRANSITIONAL AND FINAL PROVISIONS", "Article 29"]
Repeal
Repeal Directive 87/102/EEC shall be repealed with effect from 12 May 2010.
["CHAPTER II", "INFORMATION AND PRACTICES PRELIMINARY TO THE CONCLUSION OF THE CREDIT AGREEMENT", "Article 7"]
Exemptions from the pre-contractual information requirements
Exemptions from the pre-contractual information requirements Articles 5 and 6 shall not apply to suppliers of goods or services acting as credit intermediaries…
["CHAPTER VIII", "TRANSITIONAL AND FINAL PROVISIONS", "Article 31"]
Entry into force
Entry into force This Directive shall enter into force on the 20th day following its publication in the Official Journal of the European Union.
["CHAPTER VI", "CREDITORS AND CREDIT INTERMEDIARIES", "Article 20"]
Regulation of creditors
Regulation of creditors Member States shall ensure that creditors are supervised by a body or authority independent from financial institutions, or regulated…
["CHAPTER IV", "INFORMATION AND RIGHTS CONCERNING CREDIT AGREEMENTS", "Article 15"]
Linked credit agreements
Linked credit agreements 1. Where the consumer has exercised a right of withdrawal, based on Community law, concerning a contract for the supply of goods or…
["CHAPTER VII", "IMPLEMENTING MEASURES", "Article 24"]
Out-of-court dispute resolution
Out-of-court dispute resolution 1. Member States shall ensure that adequate and effective out-of-court dispute resolution procedures for the settlement of…
["CHAPTER VII", "IMPLEMENTING MEASURES", "Article 25"]
Committee procedure
Committee procedure 1. The Commission shall be assisted by a Committee. 2. Where reference is made to this paragraph, Article 5a(1) to (4) and Article 7 of…
["CHAPTER IV", "INFORMATION AND RIGHTS CONCERNING CREDIT AGREEMENTS", "Article 13"]
Open-end credit agreements
Open-end credit agreements 1. The consumer may effect standard termination of an open-end credit agreement free of charge at any time unless the parties have…
["CHAPTER IV", "INFORMATION AND RIGHTS CONCERNING CREDIT AGREEMENTS", "Article 16"]
Early repayment
Early repayment 1. The consumer shall be entitled at any time to discharge fully or partially his obligations under a credit agreement. In such cases, he shall…
["CHAPTER VII", "IMPLEMENTING MEASURES", "Article 28"]
Conversion of amounts expressed in euro into national currency
Conversion of amounts expressed in euro into national currency 1. For the purposes of this Directive, those Member States who convert the amounts expressed in…
["CHAPTER II", "INFORMATION AND PRACTICES PRELIMINARY TO THE CONCLUSION OF THE CREDIT AGREEMENT", "Article 6"]
Pre-contractual information requirements for certain credit agreements in the form of an overdraft facility and for certain specific credit agreements
Pre-contractual information requirements for certain credit agreements in the form of an overdraft facility and for certain specific credit agreements 1. In…
["CHAPTER IV", "INFORMATION AND RIGHTS CONCERNING CREDIT AGREEMENTS", "Article 17"]
Assignment of rights
Assignment of rights 1. In the event of assignment to a third party of the creditor's rights under a credit agreement or the agreement itself, the consumer…
["CHAPTER IV", "INFORMATION AND RIGHTS CONCERNING CREDIT AGREEMENTS", "Article 11"]
Information concerning the borrowing rate
Information concerning the borrowing rate 1. Where applicable, the consumer shall be informed of any change in the borrowing rate, on paper or another durable…
["CHAPTER VII", "IMPLEMENTING MEASURES", "Article 23"]
Penalties
Penalties Member States shall lay down the rules on penalties applicable to infringements of the national provisions adopted pursuant to this Directive and…
["CHAPTER IV", "INFORMATION AND RIGHTS CONCERNING CREDIT AGREEMENTS", "Article 12"]
Obligations in connection with credit agreement in the form of an overdraft facility
Obligations in connection with credit agreement in the form of an overdraft facility 1. Where a credit agreement covers credit in the form of an overdraft…
["CHAPTER V", "ANNUAL PERCENTAGE RATE OF CHARGE", "Article 19"]
Calculation of the annual percentage rate of charge
Calculation of the annual percentage rate of charge 1. The annual percentage rate of charge, equating, on an annual basis, to the present value of all…
["CHAPTER VIII", "TRANSITIONAL AND FINAL PROVISIONS", "Article 30"]
Transitional measures
Transitional measures 1. This Directive shall not apply to credit agreements existing on the date when the national implementing measures enter into force. 2…
["CHAPTER VII", "IMPLEMENTING MEASURES", "Article 27"]
Transposition
Transposition 1. Before 12 May 2010 Member States shall adopt and publish the provisions necessary to comply with this Directive. They shall forthwith inform…
["CHAPTER I", "SUBJECT MATTER, SCOPE AND DEFINITIONS", "Article 2"]
Scope
Scope 1. This Directive shall apply to credit agreements. 2. This Directive shall not apply to the following: (a) credit agreements which are secured either by…
["CHAPTER I", "SUBJECT MATTER, SCOPE AND DEFINITIONS", "Article 3"]
Definitions
Definitions For the purposes of this Directive, the following definitions shall apply: (a) ‘consumer’ means a natural person who, in transactions covered by…
["CHAPTER VI", "CREDITORS AND CREDIT INTERMEDIARIES", "Article 21"]
Certain obligations of credit intermediaries vis-à-vis consumers
Certain obligations of credit intermediaries vis-à-vis consumers Member States shall ensure that: (a) a credit intermediary indicates in advertising and…
["CHAPTER I", "SUBJECT MATTER, SCOPE AND DEFINITIONS", "Article 1"]
Subject matter
Subject matter The purpose of this Directive is to harmonise certain aspects of the laws, regulations and administrative provisions of the Member States…
["CHAPTER VII", "IMPLEMENTING MEASURES", "Article 22"]
Harmonisation and imperative nature of this Directive
Harmonisation and imperative nature of this Directive 1. Insofar as this Directive contains harmonised provisions, Member States may not maintain or introduce…
["CHAPTER II", "INFORMATION AND PRACTICES PRELIMINARY TO THE CONCLUSION OF THE CREDIT AGREEMENT", "Article 4"]
Standard information to be included in advertising
Standard information to be included in advertising (3), Member States may decide that the annual percentage rate of charge need not be provided; (d) if…
["CHAPTER IV", "INFORMATION AND RIGHTS CONCERNING CREDIT AGREEMENTS", "Article 14"]
Right of withdrawal
Right of withdrawal (2)(p) by means which can be proven in accordance with national law. The deadline shall be deemed to have been met if that notification, if…
["CHAPTER I", "SUBJECT MATTER, SCOPE AND DEFINITIONS", "Article 2"]
Scope
Scope (9) or with credit institutions as defined in Article 4 of Directive 2006/48/EC for the purposes of allowing an investor to carry out a transaction…
["CHAPTER V", "ANNUAL PERCENTAGE RATE OF CHARGE", "Article 19"]
Calculation of the annual percentage rate of charge
Calculation of the annual percentage rate of charge 4. In the case of credit agreements containing clauses allowing variations in the borrowing rate and, where…
["CHAPTER IV", "INFORMATION AND RIGHTS CONCERNING CREDIT AGREEMENTS", "Article 16"]
Early repayment
Early repayment 2. If the compensation claimed by the creditor exceeds the loss actually suffered, the consumer may claim a corresponding reduction. In this…
["CHAPTER I", "SUBJECT MATTER, SCOPE AND DEFINITIONS", "Article 3"]
Definitions
Definitions interest, commissions, taxes and any other kind of fees which the consumer is required to pay in connection with the credit agreement and which are…
["CHAPTER II", "INFORMATION AND PRACTICES PRELIMINARY TO THE CONCLUSION OF THE CREDIT AGREEMENT", "Article 5"]
Pre-contractual information
Pre-contractual information (2) of Directive 2002/65/EC if he has supplied the Standard European Consumer Credit Information. The information in question shall…
["CHAPTER II", "INFORMATION AND PRACTICES PRELIMINARY TO THE CONCLUSION OF THE CREDIT AGREEMENT", "Article 6"]
Pre-contractual information requirements for certain credit agreements in the form of an overdraft facility and for certain specific credit agreements
Pre-contractual information requirements for certain credit agreements in the form of an overdraft facility and for certain specific credit agreements (3)…
["CHAPTER IV", "INFORMATION AND RIGHTS CONCERNING CREDIT AGREEMENTS", "Article 10"]
Information to be included in credit agreements
Information to be included in credit agreements 2. The credit agreement shall specify in a clear and concise manner: (a) the type of credit; (b) the identities…
["CHAPTER II", "INFORMATION AND PRACTICES PRELIMINARY TO THE CONCLUSION OF THE CREDIT AGREEMENT", "Article 5"]
Pre-contractual information
Pre-contractual information charge; (h) the amount, number and frequency of payments to be made by the consumer and, where appropriate, the order in which…
["CHAPTER I", "SUBJECT MATTER, SCOPE AND DEFINITIONS", "Article 2"]
Scope
Scope (5), Articles 12, 15, 17 and Articles 19 to 32 shall apply. 4. In the case of credit agreements in the form of overrunning, only Articles 1 to 3, 18, 20…
["CHAPTER I", "SUBJECT MATTER, SCOPE AND DEFINITIONS", "Article 3"]
Definitions
Definitions (2); (j) ‘borrowing rate’ means the interest rate expressed as a fixed or variable percentage applied on an annual basis to the amount of credit…
["CHAPTER II", "INFORMATION AND PRACTICES PRELIMINARY TO THE CONCLUSION OF THE CREDIT AGREEMENT", "Article 6"]
Pre-contractual information requirements for certain credit agreements in the form of an overdraft facility and for certain specific credit agreements
Pre-contractual information requirements for certain credit agreements in the form of an overdraft facility and for certain specific credit agreements (6), the…
["CHAPTER IV", "INFORMATION AND RIGHTS CONCERNING CREDIT AGREEMENTS", "Article 14"]
Right of withdrawal
Right of withdrawal (11) shall not apply. 6. Member States may provide that paragraphs 1 to 4 of this Article shall not apply to credit agreements which by law…
["CHAPTER IV", "INFORMATION AND RIGHTS CONCERNING CREDIT AGREEMENTS", "Article 10"]
Information to be included in credit agreements
Information to be included in credit agreements shall indicate the payments owing and the periods and conditions relating to the payment of such amounts; the…
["CHAPTER I", "SUBJECT MATTER, SCOPE AND DEFINITIONS", "Article 2"]
Scope
Scope (4) and Articles 11, 13 and 16 to 32 shall apply to credit agreements which are concluded by an organisation which: (a) is established for the mutual…
["CHAPTER II", "INFORMATION AND PRACTICES PRELIMINARY TO THE CONCLUSION OF THE CREDIT AGREEMENT", "Article 5"]
Pre-contractual information
Pre-contractual information (2), of the result of a database consultation carried out for the purposes of assessing his creditworthiness; (r) the consumer's…
["CHAPTER I", "SUBJECT MATTER, SCOPE AND DEFINITIONS", "Article 3"]
Definitions
Definitions provision of a specific service are explicitly specified in the credit agreement.
["CHAPTER IV", "INFORMATION AND RIGHTS CONCERNING CREDIT AGREEMENTS", "Article 10"]
Information to be included in credit agreements
Information to be included in credit agreements conditions governing the exercise thereof, including information concerning the obligation of the consumer to…
["CHAPTER II", "INFORMATION AND PRACTICES PRELIMINARY TO THE CONCLUSION OF THE CREDIT AGREEMENT", "Article 6"]
Pre-contractual information requirements for certain credit agreements in the form of an overdraft facility and for certain specific credit agreements
Pre-contractual information requirements for certain credit agreements in the form of an overdraft facility and for certain specific credit agreements (2)(e)…
["CHAPTER II", "INFORMATION AND PRACTICES PRELIMINARY TO THE CONCLUSION OF THE CREDIT AGREEMENT", "Article 5"]
Pre-contractual information
Pre-contractual information 4. Upon request, the consumer shall, in addition to receiving the Standard European Consumer Credit Information, be supplied free…
["CHAPTER I", "SUBJECT MATTER, SCOPE AND DEFINITIONS", "Article 2"]
Scope
Scope 6. Member States may determine that only Articles 1 to 4, 6, 7, 9, Article 10 (1), points (a) to (i), (l) and (r) of Article 10 (2), Article 10 (4)…
["CHAPTER IV", "INFORMATION AND RIGHTS CONCERNING CREDIT AGREEMENTS", "Article 10"]
Information to be included in credit agreements
Information to be included in credit agreements (3)(b) and the amount of interest payable per day; (q) information concerning the rights resulting from Article…
["CHAPTER II", "INFORMATION AND PRACTICES PRELIMINARY TO THE CONCLUSION OF THE CREDIT AGREEMENT", "Article 5"]
Pre-contractual information
Pre-contractual information 6. Member States shall ensure that creditors and, where applicable, credit intermediaries provide adequate explanations to the…

Headings and opening words only; the full text is on eur-lex.europa.eu, which is authoritative. The library holds the version current as of the date shown. AI output is not legal advice — consult a licensed lawyer in the relevant jurisdiction.

Ask your first question. See the price before you do.

Start free See pricing

Free start credits · No card · No subscription · AI output is not legal advice — consult a licensed lawyer in the relevant jurisdiction.