The Consumer Right of Information and Advice in Credit Agreements in the European Union Law: an Analytical Legal Study

Abstract

This article detects much jurisprudence held by the Court of Justice of the European Union in the last five years, in terms of the consumer right of information provided in terms of the European Directive 2008/48/EC on credit agreements. Many rules and clarifications are provided in these decisions, which deal with the scope of application of the Directive, the consumer right to get time to investigate the content of the credit agreement and compare it with those provided by other creditors at the market, how information is to be provided to consumers, and the notion of the Standard European Consumer Credit Information form (SECCI) provided in the Directive. They also rule the party who must prove the creditor implementation of his obligations in addition to the right of Member States to provide penalties in the event of infringement of national law that implemented the Directive.