EU Consumer Credit Directive (CCD)

In May 2008 the Council of the European Union approved the Directive on Consumer Credit, the provisions of which are now embedded in UK law. The CCD amended existing consumer credit law in a number of areas, including advertising, consumer information, and the calculation of the total charge for credit.
Any agreements entered into from 1 February 2011 must comply with the new requirements.

We have divided the CCD course into two manageable sessions. Each session will review the provisions listed below, approached from a different perspective i.e. the Regulations and Government guidance.

• its application to the regulation of consumer credit agreements
• the exemptions for certain types of agreement
• standardised advertisement provisions
• pre-contract information in the form and content of Standard European Consumer Credit Information (SECCI)
• prescribed information to be included in credit agreements
• the obligation to provide prospective borrowers with ‘adequate explanations’ of the credit on offer and to assess their creditworthiness
• the borrowers right to withdraw from a credit agreement within 14 days without giving a reason
• the entitlement of a borrower to early repayment of a credit agreement, either fully or partially.

The ‘Guidance’ training day

In accordance with standard practice, Governments aim was to publish final guidance at least three months prior to the law coming into effect (Mainly 1 February 2011). Government achieved this:

UK Department for Business, Innovation and Skills (BIS) Guidance
published August 2010

Office of Fair Trading (OFT) Guidance
published March 2010 (updated August 2010 and more recently on 3 February 2011) (limited to adequate explanations and assessment of credit worthiness).

Both sets of guidance were intended to assist the lending industry to get a better understanding of the new requirements as early as possible in the implementation process.

Course Content

This training day will review the content of the published Government Guidance and in particular the OFT’s guidance in relation to adequate explanations and assessment of credit worthiness.


Designed to compliment the 'Guidance' training day, we offer a module on the CCD regulations themselves. Details of the day are listed below, and full schedule information can be found by pressing the 'Back' button. Join us for both sessions, and get the full CCD picture

The ‘Regulations’ training day

The legislative package that implemented the Consumer Credit Directive (CCD) is formed of seven statutory instruments. Access to the statutory instruments is from http://www.legislation.gov.uk/

Course Content

This training day will review the content of the legislative package that implements the Consumer Credit Directive (CCD), which is formed of the following seven statutory instruments:

• The Consumer Credit (EC Directive) Regulations 2010
• The Consumer Credit (Advertisement) Regulations 2010
• The Consumer Credit (Disclosure of Information) Regulations 2010
• The Consumer Credit (Agreements) Regulations 2010
• The Consumer Credit (Total Charge for Credit) Regulations 2010
• The Consumer Credit (Amendment) Regulations 2010
• The Consumer Credit (Amendment) Regulations 2011

The Consumer Credit (EC Directive) Regulations 2010 made a number of amendments to the Consumer Credit Act 1974 and associated secondary legislation. The other four sets of regulations replace existing secondary legislation made under the CCA 1974.The amendment regulations corrected errors in the regulations made in 2010.

Combined CCD Courses aims and intended learning outcomes

The two courses aims to provide delegates with a clear, practical understanding of the main technical provisions of the EU Directive on Consumer Credit and, Governments view on its application to the Lending Industry from both a legal and a practical perspective.

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