Will the new Consumer Credit Directive (CCD2) change the way banks assess credit risk?
On December 10, during a training session organized by Wolters Kluwer, attorneys Konrad Trzaskowski and Tomasz Majkrzak, senior associates at KKG Legal, discussed the key tenets of the new CCD2 directive and the proposed provisions of the Consumer Credit Act.
The topics included:
- Expanding the scope of the legislation to include "buy now, pay later" models,
- New obligations of lenders,
- Use of social media data and automated data processing systems in assessing creditworthiness,
- Sanctions for breach of the lender's obligations.
The training was aimed particularly at representatives of banks, loan companies, financial institutions, and fintechs, as well as lawyers handling consumer credit cases and the so-called free credit sanction.