Press Release: Buying consumer credit on-line: following EU action, over 75% of websites checked now give satisfactory information to clients

Before consumers enter into a loan, they need to understand its real cost and take the time to reflect, especially on the monthly repayment. Following a crackdown on websites offering consumer credits, more than 3 out of 4 sites checked a year ago now comply with EU law (compared with only 30% in September 2011).

Further improvements should follow as national authorities pursue their actions on outstanding cases. Of the 70% of sites flagged for further investigation at the time, 10% were finally deemed compliant and 35% were corrected after action by national authorities. The remaining websites either no longer exist or are subject to on-going administrative or court proceedings.