Legal Alert - Netherlands implements Consumer Credit Directive 

The EU Directive on credit agreements for consumers (2008/48/EC) has been implemented in the Netherlands. The implementation act ("Act") entered into force on 25 May 2011. The Act introduces a new chapter on consumer credit agreements into the Dutch Civil Code ("DCC") and amends the Financial Markets Supervision Act ("FMSA") and the Consumer Credit Act ("CCA"). The Decree on Conduct of Business Supervision of Financial Undertakings FMSA has also been amended ("Decree"). As the amendments to the Decree have not yet been published, we have used the consultation version of the amending decree ("Consultation Version Decree").

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