Consumer Credit Directive

The Consumer Credit Directive is a set of rules established by the European Union to protect consumers who borrow money or use credit. It aims to create a fair, transparent, and responsible lending environment. Under this directive, lenders must provide clear information about credit terms, fees, and their responsibilities. It also ensures consumers have the right to withdraw from credit agreements within a certain timeframe and promotes responsible lending practices to prevent over-indebtedness. Overall, it seeks to empower consumers and promote confidence in the credit market.