CJEU Judgment: Financial Institutions Must Comply With Disclosure Obligations

(Greek text further below)

Judgment C-472/2023 of the Court of Justice of the EU (CJEU): Financial Institutions must comply with Disclosure Requirements.

The Court of Justice of the European Union (CJEU) delivered Judgment No C-472/2023, on 13 February 2025, as questions arose in a preliminary procceding by the Polish Court of Justice (Warsaw District Court). The judgment is based on key articles of Directive 2008/48/EC in relation to consumer credit, concerning disclosure obligations of financial institutions towards consumers, and the consequences of non-compliance with these obligations.

Main Articles of Directive 2008/48/EC on which Decision C-472/2023 is based:

1. Article 10 of Directive 2008/48/EC: the Article focuses on disclosure obligations to be provided to consumers before the conclusion of a consumer credit agreement. According to the Article, financial institutions must fully and clearly inform consumers of the terms & conditions of the credit