# Government invites submission on Consumer Credit



## Brendan Burgess (16 Apr 2009)

The European Union has passed the Consumer Credit Directive which must be transposed into Irish law by June 2010.

The Department of Finance has invited submissions on it. When I looked at the proposed directive about two years ago, I was concerned that it might actually weaken protection for Irish consumers. 

Anyone fancy reviewing the documentation and kicking off a discussion here? 

It's a good chance to influence the law which will govern consumers for the next 20 years.

Brendan


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## Setanta12 (16 Apr 2009)

I think it should be mandatory that Lenders, if declining you for a loan say in excess of EUR€5,000, automatically provide you with a copy of your ICB report, free of charge. 

Legislation should protect them if they based their opinion on misleading or incorrect  or indeed correct information contained therein and allow them to state that other factors may have come into play when making their decision.

I think some people need a reality-check re their own finances and this may help !?


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## Brendan Burgess (16 Apr 2009)

Hi Setanta

I think that the consultation is quite narrow. 

The directive sets down most of the issues and there are only a few issues subject to local discretion. 

I doubt if that is one, but I don't know.

Brendan


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