Until now, consumers could easily take out microloans for online purchases in instalments via providers such as Klarna and PayPal without credit checks.

A 2020 review of the Consumer Credit Directive (2008/48/EC) ("CCD I") by the European Commission (EC) found that CCD I has been only partially effective in ensuring a high level of consumer protection.

The EU Consumer Credit Agreement Directive (2008/48/EC) was implemented in Austria through the enactment of a new federal Consumer Credit Act.

We are passionate about what we do. This guarantees extraordinary ideas, dedication and accomplishments.

The tragic situation in Ukraine has given us all pause to appreciate that very little, if anything, can even begin to compare to the tragedies unfolding so close to home.

Austria has enacted significant reforms to consumer protection law, introducing stricter requirements for retail lending and distance contracts.