Press release - Deal on new rules to protect consumers from taking on too much debt

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On Friday morning, negotiators from Parliament and Council reached a provisional political agreement to update the EUs rules on consumer credit.

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European ParliamentEuropean Parliament
URL: 
https://www.europarl.europa.eu/news/en/press-room/20221128IPR58027/https://www.europarl.europa.eu/news/en/press-room/20221128IPR58027/
Retrieved on: 
Friday, December 2, 2022
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Tags: 
Left, History, IMCO, Consumer Protection Committee, MEPS, Credit, CCD, Legislation, Cancer, Inuit Tapiriit Kanatami v Parliament and Council, Insurance, MEP, SME, Creditor, Member of the European Parliament, European Single Market, Council, Time, Advertising, Parliament, Patient, EP, Bank, EU
Summary
Key Points: 
  • On Friday morning, negotiators from Parliament and Council reached a provisional political agreement to update the EUs rules on consumer credit.
  • The new directive on consumer credits (CCD) aims to make the credit markets function smoothly while ensuring a high level of consumer protection.
  • According to the deal, the legislation will cover credit agreements of up to 100,000.
  • Consumers will have the right to early repayment and to reduce the total cost of their credit.
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