From this history, the purpose of this short article is twofold.
Next, it tries to evaluate as to what extent the 2008 credit rating Directive is fit for the function as far as the consumer protection against irresponsible lending practices is concerned today. The analysis commences by having a research associated with basic meaning of вЂњresponsible lendingвЂќ into the context of customer creditвЂ”that is, unsecured credit given to individual, home, or domestic purposes. Building upon the contours of this idea of accountable financing which has had emerged with this quest, plus the outcomes of the study that is empirical by the writers, the content subsequently identifies probably the most imminent reckless financing methods into the credit rating areas over the EU and tentatively analyses their key motorists. The empirical study involved several semi-structured interviews with the representatives of the consumer organizations and national competent authorities aimed at verifying the preliminary findings and obtaining further information on the problematic aspects of consumer credit, both in old and new Member States in addition to the desk research. Read more