Tougher licensing requirements for consumer credit lending
Kreditgivning - 2025-01-30
Today, the government submitted a legislative proposal to the Council on Legislation, suggesting that only credit institutions and banks should be allowed to conduct business with the purpose of granting or intermediating consumer credit.
The proposed legislative amendments are set to take effect on 1 July 2025.
According to the government, these measures aim to strengthen consumer protection, counteract over-indebtedness, and create a more level playing field for participants in the consumer credit market.
The proposal means that if you currently engage in consumer credit lending under the Act on Certain Consumer Credit Activities, you will no longer be able to do so without applying for a new licence or making adjustments to your business operations.
At Engström & Hellman Advokatbyrå, we are ready to assist credit providers in analysing the impact of the proposed legislation on your business. Get in touch with us!