header-logo header-logo

Home Login E-newsletter About us
24 September 2021 / Fred Philpott
Issue: 7949 / Categories: Features , Brexit , EU , Commercial
printer mail-detail

Consumer credit—which way forward?

© Copyright LexisNexis 2026. All Rights Reserved.
58614
The EU hs proposed a new Consumer Credit Directive. A major question is how does the UK react? Fred Philpott investigates
  • Considers how the UK might react to the EU proposal for a Directive on Consumer Credit.

On 30 June 2021 the EU issued a proposal for a Directive of the European Parliament and of the Council on Consumer Credits (2021/1071 (COD)). The question is how will the UK react to this new Directive if at all?

Background

The current Directive is 2008/48/EC, which is a maximum harmonisation Directive and was implemented by a raft of UK Regulations in 2010. The only previous EU Directive on Consumer Credit was 87/102/EEC. This was to a significant extent modelled on the UK Consumer Credit laws which began with the Consumer Credit Act 1974 (CCA 1974) and therefore little had to be changed in UK law to comply with the 1987 Directive.

The 2008 Directive was very significantly different from that of 1987 and required the UK to introduce numerous changes to consumer credit law which did not happily fit with the

If you are not a subscriber, subscribe now to read this content
If you are already a subscriber sign in
...or Register for two weeks' free access to subscriber content

MOVERS & SHAKERS

Read All
Sponsored by
Hogan Lovells—Lisa Quelch

Hogan Lovells—Lisa Quelch

Partner hire strengthens global infrastructure and energy financing practice

Sherrards—Jan Kunstyr

Sherrards—Jan Kunstyr

Legal director bolsters international expertise in dispute resolution team

Muckle LLP—Stacey Brown

Muckle LLP—Stacey Brown

Corporate governance and company law specialist joins the team

NEWS
Read All
Legal notice: Notice under the Trustee Act 1925

NOTICE UNDER THE TRUSTEE ACT 1925

HERBERT SMITH STAFF PENSION SCHEME (THE “SCHEME”)

NOTICE TO CREDITORS AND BENEFICIARIES UNDER SECTION 27 OF THE TRUSTEE ACT 1925
Emergency lawyers on call as international regulatory actions soar
Law firm HFW is offering clients lawyers on call for dawn raids, sanctions issues and other regulatory emergencies
NLJ this week: Employment law’s fine margins
From gender-critical speech to notice periods and incapability dismissals, employment law continues to turn on fine distinctions. In his latest employment law brief for NLJ, Ian Smith of Norwich Law School reviews a cluster of recent decisions, led by Bailey v Stonewall, where the Court of Appeal clarified the limits of third-party liability under the Equality Act
NLJ this week: Promises broken on non-molestation orders?
Non-molestation orders are meant to be the frontline defence against domestic abuse, yet their enforcement often falls short. Writing in NLJ this week, Jeni Kavanagh, Jessica Mortimer and Oliver Kavanagh analyse why the criminalisation of breach has failed to deliver consistent protection
NLJ this week: Assisted dying under the legal microscope
Assisted dying remains one of the most fraught fault lines in English law, where compassion and criminal liability sit uncomfortably close. Writing in NLJ this week, Julie Gowland and Barny Croft of Birketts examine how acts motivated by care—booking travel, completing paperwork, or offering emotional support—can still fall within the wide reach of the Suicide Act 1961
Copyright © 2026 LexisNexis
back-to-top-scroll