No, credit for amounts under €200, that are interest free or repayable within three months should not be exempt from the provisions of the CCD2.
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3.4 Article 2(8) of CCD2
Closed19 Sep, 2024, 12:00 - 18 Oct, 2024, 17:00
Article 2(8) provides for some national discretions to be applied to credit agreements that involve a total amount of credit of less than €200; or where the credit granted is free of interest and other charges; or where the credit has to be repaid within three months and only insignificant charges are payable. Member States may decide to exempt such credit agreements from the provisions of CCD2 relating to advertising, pre-contractual information on credit agreements and information to be included in credit agreements.
Question 4 – Should Ireland exempt credit agreements for amounts under €200 or that are interest free or that are repayable within three months from the provisions of CCD2 relating to advertising, pre contractual information on credit agreements, and information to be included in credit agreements?
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Materials
Observations
Observations
Yes, for credit agreements under €200, exemptions from advertising requirements and detailed disclosures should be considered. While consumer awareness is important, excessive regulations can make...
Yes. We believe the exemption for interest (and charge) free loans should continue. This exemption currently exists in several pieces of Irish legislation, including the Consumer Credit Act 1995, the...
No, all credit agreements should have the same protections for the consumer. Any credit agreement that has the potential for interest to be applied at some point should be subject to the same...
Yes. Credit agreements for amounts under €200 should be exempt from advertising, pre-contractual information on credit agreements and information to be included in credit agreements. Whilst consumers...