Yes, in certain circumstances, credit providers should adapt explanations to consider the consumer’s vulnerable circumstances and the type of credit that is being offered. Consumers seeking credit...
3.6 Article 12(2) of CCD2
Closed19 Sep, 2024, 12:00 - 18 Oct, 2024, 17:00
Article 12 provides that creditors and, where applicable, credit intermediaries are required to provide adequate explanations to the consumer on specific information regarding proposed credit agreements and ancillary services.
This information should be provided free of charge, and special attention should be given to the needs of persons with disabilities or consumers in vulnerable circumstances.
However, Member States may, in justified cases, adapt the requirements for the manner and extent to which the explanations are to be given to the following: (a) the circumstances of the situation in which the credit is offered; (b) the person to whom the credit is offered; (c) the type of the credit offered.
Question 6 – Should Ireland adapt any such requirements regarding the manner in which explanations are to be given?
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Materials
Observations
Observations
No. There are sufficient requirements in relation to the provision of information to consumers in Ireland currently, with the Consumer Protection Code set to introduce further related obligations by...
No. The Consumer Protection Code is currently being reviewed and has provisions relating to safeguarding customers in vulnerable circumstances. We think it would be beneficial and prudent to wait...
Yes, some of the information must come from the credit Institution, therefore it should be the obligation of the credit institution to provide the information to the consumer or where a credit...
Pre-contractual information must be transparent and presented in a way that is helpful to consumers, and tailored to the way they shop: immediately and online. To overload consumers of short-term...