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Evaluation of Directive 2008/48/EC on credit agreements for consumers
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Evaluation of Directive 2008/48/EC on credit agreements for consumers

Final report

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This evaluation provided evidence on whether the current legal framework of Directive 2008/48/EC (Consumer Credit Directive - CCD) is still fit for purpose, via an assessment of its effectiveness, efficiency, relevance, coherence, EU added value and potential for simplification and burden reduction. The evaluation assessed the overall functioning and practical application of the CCD and continued relevance of the original objectives, and established the extent to which the CCD is still relevant in view of new developments. For the evaluation relevant stakeholders were consulted (ministries, enforcement authorities, consumer associations and industry representatives), both consumers and creditors were surveyed and results from the Open Public Consultation were incorporated. The evaluation has also made use of quantification approaches, a mystery shopping exercise and extensive literature review. It finds that the CCD has been partially effective in ensuring high standards of consumer protection and fostering the development of a single market for credit in the context of a regulatory landscape showing significant fragmentation across the EU-28. While the CCD has a number of possible shortcomings, a number of important obstacles are due to the application, implementation and enforcement of the Directive as well as wider market developments not foreseen at the time it was drawn up in 2008.
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ISBN 978-92-76-30706-8
DOI 10.2838/949753
Katalooginumber DS-09-21-005-EN-N
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ISSN ISBN 978-92-76-30706-8 DOI 10.2838/949753 Katalooginumber DS-09-21-005-EN-N
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