The CCPC does not see the need to prohibit advertisements that highlight the ease or speed which credit can be obtained. Neither should there be an outright ban on the advertising of credit products...
3.5 Article 8(8) of CCD2
Closed19 Sep, 2024, 12:00 - 18 Oct, 2024, 17:00
Article 8(8) of CCD2 provides for Member States to decide whether to prohibit advertisements that they deem to be risky. Specifically advertising that accentuates the ease or speed which the credit can be obtained, that provides for a discount that is conditional on accepting credit, or which offers payment breaks of more than three months for the repayment of instalments.
Question 5 – Should Ireland prohibit advertising of credit that accentuates the ease or speed which the credit can be obtained, that provides for a discount conditional on accepting credit, or which offers payment breaks of more than three months for the repayment of instalments?
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Materials
Observations
Observations
No. Consumers should have the freedom to prioritise what matters most to them in making credit decisions. While interest rates are an important consideration, they are not always the only factor...
No. Reference to the “ease and speed” of accessing credit would seem to imply that the product poses a higher risk or that access is based on an unsound credit decision. It is important to note that...
No. The “ease and speed” which the credit is obtained can be at the request and benefit of the borrower and Credit Unions provide a quick turnaround for credit applications. It should be noted that...
No. Ease or speed could be an underlying factor required or sought by a borrower. Consumers should have the right to choose what is important to them when considering a credit product. When it comes...