The Directive acknowledges that national differences in the laws transposing directive 87/102/EEC lead to distortion among creditors, restricting consumers' ability to make direct use of cross-border credit. It also notes that a more transparent and efficient credit market is vital to promote these cross-border activities and that full harmonization is necessary to ensure that all consumers enjoy a high and equivalent level of protection, receiving adequate pre-contractual information and the time for consideration. The Directive establishes the scope for pre-contractual information and practices, access to databases assessing the creditworthiness of consumers, information and rights concerning credit agreements, the annual percentage rate of charge, intermediaries.
- Composition of the study group
- Administrators in charge: Janine Borg (INT Section) / Layla Reiter (PAS Unit)
- Assistants: Yolanda Grasa Nieto (INT Section) / Sandra Hollander (PAS Unit)
For more information please contact the INT Section Secretariat.