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  Background materialslide

1. Consumer Credit Directive of 1987

The 1987 Consumer Credit Directive ES DA DE EL FR IT NL PT FI SV aimed to create an environment where consumers are sufficiently protected throughout the EU, so that they can carry out cross-border transactions with confidence. This Directive was amended in 1990 and 1998. It was based on minimum harmonisation, which means that Member States are obliged to implement at least the provisions contained in the Directive. However, they may also maintain or introduce stricter rules in favour of consumers.

2. New proposal for a Consumer Credit Directive

Since the original Directive was passed in 1987, the consumer credit market has changed significantly. There is also evidence that more needs to be done to encourage the provision of consumer credit across national borders. The Commission issued therefore a discussion paper ES DA DE EL FR IT NL PT FI SV (110KB). Based on this discussion paper hearings took place in summer 2001 where the opinion of stake holders were heard.

On 11 September 2002 a proposal ES DA DE EL FR IT NL PT FI SV (440 KB) was adopted by the Commission for a Directive of the Parliament and of the Council on harmonisation of the laws, regulations and administrative provisions of the Member States for credit for consumers.

For clarification Questions and Answers DE FR (117 KB) on the proposal was published and also a press release DE FR IT .

In the Council of 19 May 2003 a policy debate took place on a few major issues.

The European Parliament adopted its amendments in first reading on 20 April 2004.

On 28 October 2004, following the European Parliament 1st reading opinion, the Commission adopted its modified proposal

After debate of the second revised proposal, the Council adopted on 20 September 2007 its Common Position. pdf

During its second reading, the European Parliament reached an agreement with the Council on the final text of the Directive which was voted on 16 January 2008.

The Council adopted this final text in second reading on 7 April 2008.



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