EU close to credit servicer Directive and proposes CCD changes

The Council of the EU has supported a proposal for a Directive to regulate credit servicers and purchasers, following concerns that the regulation (or otherwise) of those who buy and service loans, particularly non-performing loans, is patchwork across the EU.

Separately, the Commission has proposed changes to the Consumer Credit Directive to require information relating to credit to be presented in a clear way, properly adapted to digital devices, and also adjust and improve the creditworthiness rules.