Consumer Credit Directive - CCD2

Directive (EU) 2023/2225 of the European Parliament and of the Council of 18 October 2023 on credit agreements for consumers and repealing Directive 2008/48/EC

The purpose of this consultation is to obtain submissions on the transposition of Directive (EU) 2023/2225. This Directive repeals Directive 2008/48/EC known as the Consumer Credit Directive (CCD1). The new Directive (CCD2) addresses developments such as digitalisation, which have significantly changed the consumer credit market as well as encompassing new products that were not addressed by CCD1.

The majority of the provisions in CCD2 must be transposed on a fully harmonised basis. However, there are a number of provisions in the Directives to which full harmonisation does not apply and Member States are given discretion as to whether and how to apply these provisions.

Chapter 3 (and its sub-chapters) of this consultation document set out the discretions contained CCD2 and the Department invites comments on whether these discretions should be availed of, how they should be availed of and clear reasoning for such a position. Comments are also welcomed where the transposition will have an impact on certain other national legislation.

In responding to this consultation you are invited to:

• Give your views on the specific questions set out below. You do not have to answer every question – you may choose to answer all of the questions or only those which are relevant to you.
• Provide details of any issues or concerns you feel should be considered in dealing with the particular topic being addressed in your response.
• Where appropriate, provide some analysis or views on the regulatory and/or financial impact of the proposed approach.

The comments received will be taken into consideration when deciding how best to transpose the CCD 2 into Irish law. 

Please note that the Department does not propose to revisit discretions contained in the original CCD 1 and on which decisions were made during the original transposition process in 2009 and 2010. However, if you have a view on how these discretions were implemented, we would welcome comments.