Thursday July 9, 2020

Credit unions miss out on EU directive exemption

The government has thrown out a request from credit unions to be given wide-ranging exemptions from new EU-wide rules on consumer lending.

29th May, 2010

The government has thrown out a request from credit unions to be given wide-ranging exemptions from new EU-wide rules on consumer lending.

The Department of Finance has decided against exercising an option open to individual member states to restrict the application of the new EU Consumer Credit Directive and exclude certain categories of lender from the scope of the new rules.

The directive will impose new rules on consumer loans of up to €75,000.

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