The EU has unveiled a public consultation on the review of the Consumer Credit Agreements which runs until October 6, 2020 and had been put under the limelight by the Covic-19 pandemic. Though focused on consumer credit, the consultation aims to consult credit providers, credit intermediaries and credit registers, industry associations, businesses that produce and sell consumer products (goods and services), distributors and importers, repair sector, large online platforms and other online intermediaries.
The consultation seeks views on the need to revise and adapt the following four EU legal instruments:
- A New Consumer Agenda (https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/12464-Consumer-policy-the-EU-s-new-consumer-agenda- )
- Empowering the consumer for the green transition (https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/12467-Empowering-the-consumer-for-the-green-transition )
- Review of the Directive on credit agreements for consumers (2008/48/EC) (https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/12465-Consumer-Credit-Agreement-review-of-EU-rules ): it follows its recent evaluation, which highlighted several challenges hindering its functioning, in particular, in terms of scope, information provision and creditworthiness assessment. It will take into account the impact of COVID-19 on the credit market and on consumers, including vulnerable ones.
- Review of the Directive on General Product Safety (2001/95/EC) (https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/12466-Review-of-the-general-product-safety-directive)
The consultation is open until October 6 and the Commission is welcoming input with concrete examples of the impact of the pandemic.
Source: European Commission