EC Consumer Credit Directive
The Consumer Credit Directive (CCD) was adopted by the European Council in May 2008, and legislation implementing its provisions will come into force on 1 February 2011 (although lenders can start complying earlier).
The Consumer Credit Directive (CCD) was adopted by the European Council in May 2008, and legislation implementing its provisions will come into force on 1 February 2011 (although lenders can start complying earlier).
New legislation implementing the Consumer Credit Directive was made in March 2010 (Statutory Instruments 2010/1010, 2010/1011, 2010/1012, 2010/1013, 2010/1014)
In addition, SI 2010/1969 was made in August 2010 to correct errors in SI 2010/1010, 2010/1013 and 2010/1014. These regulations should be read together with SI 2010/1969.
SI 2010/1970 was made in August 2010 to correct errors in SI 2010/1012 by repealing and replacing those regulations.
You can access the statutory instruments, as well as the accompanying Explanatory Memoranda and impact assessment, from the Office of Public Services Information (OPSI) website (www.opsi.gov.uk/si/si-2010-index).
Guidance on the regulations implementing the Consumer Credit Directive (PDF, 562 Kb) as well as a Quick start guide (PDF, 66 Kb) in plain English summarise the principal changes that have been made to the Consumer Credit Act and other legislation and are intended to help businesses identify and understand changes that affect them. It may also be helpful to consumers, advisors, enforcement authorities and other organisations. The key elements of the new regulations are set out on our Consumer Credit Regulations page.
For further information, please email consumer.credit@bis.gsi.gov.uk
