Directive 2008/48/EC

Directive 2008/48/EC is a European Union regulation designed to protect consumers involved in credit agreements, such as loans and credit cards. It aims to ensure transparency and fairness by requiring lenders to provide clear information about the terms and costs of credit before a consumer commits to it. This includes details on interest rates, fees, and repayment conditions. The directive also establishes the right of consumers to withdraw from agreements within a specific period, thus promoting informed decision-making and responsible lending practices across EU member states.