meta_id 3041551

The Dutch Minister of Finance has submitted the “Implementing Act on the Revised Consumer Credit Directive” bill to the Dutch House of Representatives. The bill will ensure that the revised Consumer Credit Directive ( Directive (EU) 2023/2225 ) is implemented into Dutch law. The revised directive aims to strengthen consumer protection within the EU's credit market by updating the rules governing consumer credit agreements. Implementing the directive reflects the Netherlands' obligation to align its national legislation with EU directives on consumer financial protection. The proposal amends several pieces of Dutch legislation in order to transpose the European Union directive into national law. It modifies the Financial Supervision Act , Book 7 of the Dutch Civil Code and the Consumer Protection Enforcement Act . The bill includes supplementary provisions necessary for achieving the directive's objectives, including a ban on offering certain forms of credit to minors and an obligation for associates to verify the consumer’s age. Certain exceptions to the scope of application of the directive, as set out in Article 2 of the directive, have not been adopted, or have not been adopted in full. For example, the provision for setting an upper limit on the scope of application has not been adopted; therefore, larger credit agreements will fall within the scope of the legislation. Additionally, platforms offering credit agreements in the form of deferred payment without the use of a third party are not excluded from the scope. The bill also provides a legal basis for processing specific categories of personal data in the context of creditworthiness assessments in exceptional cases and under strict conditions. The effective date will be determined by royal decree and may vary for different articles or provisions of the legislation.