09/10/2023 (Agence Europe) – The European directive on Consumer Credit Agreements in the Digital Age was adopted by the EU Council on Monday 9 October. This new legislation aims to better protect consumers against risky loans and over-indebtedness while creating an internal market for online loans (see EUROPE 13249/20, 13076/3). “We need to protect consumers from irresponsible lending practices that spread particularly in online environments. This new legislation will ensure that consumers have all the information they need, and that it is presented clearly, even for small-scale credit”, commented Spain’s Acting Minister for Consumer Affairs, Alberto Garzón Espinosa. The directive will be published in the Official Journal of the EU and will come into force 20 days later. It will repeal Directive 2008/48/EC, which is obsolete. See the text: https://aeur.eu/f/8yw (AN)