Consumer credit markets in the EU have undergone a transformation in the past decade. New players have entered the market and new forms of credit have appeared such as “buy now, pay later”. Consumers expect smoother and faster processing of credit applications and more often use digital means to apply. New technologies further provide the possibility to disclose information to consumers in new ways as well as fully automat the credit-worthiness assessment.
During this CEPS-ECRI webinar, key stakeholders will discuss the European Commission proposal for a revised Consumer Credit Directive (CCD) and whether it is fit for purpose. Is the expansion of the scope appropriate? Are the proposed pricing rules adequate to overcome the different practices by member states? Does the proposal find the right balance between data-sharing demands for creditworthiness assessments and data protection? And do the proposed changes to the creditworthiness assessment sufficiently protect consumers against over-indebtedness?