Database on German and European Economic Law

 Directive 2008/48/EC

I. Description

Various factors can explain the sluggish development of the European cross-border credit market and these include, as the main contributing factors:
– technical problems in connection with accessing another market,
– a lack of adequate harmonisation as regards national legislation,                                                                                                                                              – the changes to the methods and styles of credit that have occurred since the 1980s.

A revision of the directive calls for:
– changes to the legal framework to reflect new methods of credit,
– a realignment of the rights and obligations both of consumers and credit providers to redress the balance,
– a high degree of consumer protection.

The aim is to pave the way for a more transparent market, a more effective market and to offer such a degree of protection for consumers that the free movement of offers of credit can occur under the best possible conditions both for those who offer credit and those who require it. To achieve these objectives the directive would need to be revised in a way that takes account of the following six guidelines:
(1) a redefinition of the scope of the directive in order to ensure that it reflects the new situation on the market and is better able to draw the line between consumer credit and housing credit;
(2) the inclusion of new arrangements that take account not only of creditors but also of credit intermediaries;
(3) the introduction of a structured information framework for the credit provider in order to allow him to assess more fully the risks involved;
(4) a specification requiring more comprehensive information for the consumer and any guarantors;
(5) a fairer sharing of responsibilities between the consumer and the professional;
(6) the improvement of the arrangements and practices that determine how professionals deal with payment defaults, both for the consumer and for the credit provider.

II. General Information

Title

Directive 2008/48/EC of the European Parliament and of the Council of 23 April 2008 on credit agreements for consumers and repealing Council Directive 87/102/EEC

Status
Existing
Directive
2008/48/EC
Source
O.J. EC No L (Legislation), Edition 133, Year 2008, p.66 - 92
Adoption
04/23/2008
Promulgation
05/22/2008
Character
Regular Act
Legal Basis
Art. 95 EC
Legislative Procedure
Codecision procedure

III. Versions and Legislative History

1. Versions

Titel
Allg. Daten
Textfassung

Original Text :
Directive 2008/48/EC of the European Parliament and of the Council of 23 April 2008 on credit agreements for consumers and repealing Council Directive 87/102/EEC

  2008/48/EC

Beschluss:
04/23/2008 (A)
Verkuendung:
05/22/2008 (P)
(A) Adoption | (P) Promulgation

2. Legislative History

Datum
Typ / Titel
Textfassungen
02/25/2008
Opinion of the Commission
COM(2008) 117 endgültig
01/16/2008
Report of the European Parliament - 2nd reading
O.J. EC No. C, Ausgabe 138E, Jahr 2008, p. 21
Proposal
COM(2005) 483 endgültig
10/28/2004
Proposal
COM(2004) 0747 endgültig
04/20/2004
Report of the European Parliament - 1st reading
O.J. EC No. C, Ausgabe 104E, Jahr 2004, p. 233
07/17/2003
Opinion of the European Economic and Social Committee
O.J. EC No. C, Ausgabe 234, Jahr 2003, p. 1
09/11/2002
Proposal
COM(2002) 443 endgültig

3. Legal Impact

Auswirkungstyp
Richtlinie
Textfassungen
Repeal
  Directive 87/102/EEC

IV. Umsetzung in den Mitgliedstaaten

1. Implementation in Germany

Legend

Legislative Act Status

Documents

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Overview

I. Description
II. General Information
III. Versions and Legislative History
1. Versions
2. Legislative History
3. Legal Impact
IV. Umsetzung in den Mitgliedstaaten
1. Implementation in Germany