3.13 Article 24(5) of CCD2

Overdraft facilities are increasingly common forms of consumer credit. Therefore, there is a need to regulate those financial products in order to increase the level of consumer protection and avoid over-indebtedness. There is a danger that consumers will not be able to pay if the creditors decide to request immediate repayments and the CCD2 provides for consumer rights in respect of overdraft facilities and overrunning. Member States may provide for more stringent provisions to protect consumers holding an overdraft.  Any such provisions must be in accordance with EU Law.

Question 13 – Should there be more stringent consumer protection provisions above those provided for in Article 24 of CCD2?