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ARTICLE · 24 SEPTEMBER 2024

EU Credit Servicing Directive – Amendment To Consumer Protection Code

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The Directive on Credit Servicers and Credit Purchasers (Directive (EU) 2021/2167Opens in new window, the "Credit Servicing Directive") applies to the sales and servicing of non-performing loans ("NPLs") issued by a credit institution established in the EU.

European UnionConsumer Protection
Alma Campion
Alma Campion
John Adams
John Adams
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The Directive on Credit Servicers and Credit Purchasers (Directive (EU) 2021/2167, the "Credit Servicing Directive") applies to the sales and servicing of non-performing loans ("NPLs") issued by a credit institution established in the EU. Ireland transposed the Credit Servicing Directive via the European Union (Credit Servicers and Credit Purchasers) Regulations 2023 (the "Credit Servicing Regulations") on 21 December 2023 and with an effective date of 30 December 2023. We have previously provided updates and more detailed analysis on the Credit Servicing Directive and the Credit Servicing Regulations: in June 2021, August 2021, November 2021, September 2023, October 2023 and January 2024 respectively.

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