Kuluttajaluottodirektiivi

Kuluttajaluottodirektiivi was a European Union directive that aimed to establish a uniform financial protection framework for consumers in cross-border transactions. Issued in 2008, the directive created a set of regulations governing the rights of consumers to seek redress when suppliers do not fulfill their obligations.

The directive required member states to establish a system for out-of-court resolution of consumer disputes, making it easier for consumers to claim their rights in situations such as non-delivery, late delivery, or defective goods. Moreover, it laid down rules for the content and wording of contracts, including information that must be provided to consumers prior to conclusion of a contract.

The directive also introduced rules for long-distance selling, requiring suppliers to provide clear and accurate information about prices, payment terms, and refund provisions. Additionally, it established a formal system for complaint handling and a framework for resolving disputes through alternative dispute resolution (ADR).

One of the key elements of the directive was the creation of a formal procedure for out-of-court resolution of disputes, under which consumers could seek redress without having to initiate costly and time-consuming court proceedings. The directive was expected to increase consumer confidence and provide protection for consumers involved in cross-border transactions.

Kuluttajaluottodirektiivi was incorporated into EU law in 2011 and applied to all member states at that time. The directive was later simplified and recast, becoming the Consumer Rights Directive, which came into effect in 2014. The recast directive aimed to strengthen consumer protection and simplify the existing regulation.