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New rules for consumer credits in the EU




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As of Sunday 19 November, new EU rules on consumer credit to safeguard consumers, enter into force. From now on, consumers who are financing their projects and goods through credits shall be better aware of the costs they face and better protected against the risks of new forms of credits offered online, such as Buy Now Pay Later schemes. No matter whether consumers are leasing a car, financing their online shopping, their holidays or projects related to house renovation works, with the new legislation it is less likely they'll end up over-indebted.  

Values and Transparency Vice President Vera Jourová (pictured) said: “Consumer credits can help many customers to afford all sorts of goods and projects. However, if the costs of the credit are excessive, its conditions unclear or its consequences not carefully assessed, the credit becomes a risk. With the rules entering into force today, we are making it easier for consumers to avoid such risks and stay safe.”     

Justice Commissioner Didier Reynders said: “Digitalization has profoundly changed the lending sector. The new rules pave the way for the future and address important challenges, such as the new ways of disclosing information digitally and of assessing the creditworthiness of consumers, and ensure quick credit solutions flourishing online offer the same protection as traditional types of credit.” 

Member states are required to transpose the Directive into national law by 20 November 2025. More information on EU rules on consumer credits is available here

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