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

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.

Benchmark Regulation ( Details)

Mortgage Credit Directive ( Details)

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

 Gesetz zur Umsetzung der Verbraucherkreditrichtlinie des zivilrechtlichen Teils der Zahlungsdiensterichtlinie sowie zur Neuordnung der Vorschriften über das Widerrufs- und Rückgaberecht

Vermittlungsbegriff in § 4 Nr. 8 UStG
UR 2005, 362

Der Diskussionsstand zur Reform der Verbraucherkreditrichtlinie
BKR 2004, 309 ff.

AG-Rechts-Report Neues aus Brüssel Vorschlag zur Novellierung der Verbraucherkreditrichtlinie
Die Aktiengesellschaft 2005, R014

Privatautonomie im Verbraucherkreditrecht wohin? - Zum Richtlinienvorschlag zur Harmonisierung der Rechts- und Verwaltungsvorschriften der Mitgliedstaaten über den Verbraucherkredit
BKR 2004, 268 ff.

Die neue Verbraucherkreditrichtlinie  2008/48/EG und ihre Auswirkungen auf das deutsche Recht
WM 2008, 1104 ff.

Die neue Verbraucherkreditrichtlinie und ihre Folgen
EuZW 2008, 454 ff.