National enforcement authorities, including the Office of Fair Trading in the UK, will now contact financial institutions and credit intermediaries about suspected irregularities and ask them to clarify or take corrective action.
EU Consumer Commissioner John Dalli said: "When people look for credit they sometimes discover that this credit turns out to be more expensive than it had originally appeared, because important information was sometimes unclear or missing. Consumer credit is not always easy to understand, which is why there is European legislation in place to help consumers make informed decisions."
He added: "It is very important that businesses provide consumers with the correct and necessary information and it is the role of the Commission to work together with national enforcers to make this happen."
The Consumer Credit sweep took place in September 2011.