[co-author: Andrea Manta]
The Italian Ministry of Economy and Finance (“MEF”) issued a public consultation on a draft legislative decree containing the Italian implementation of Directive (EU) 2023/2225 on credit agreements for consumers (“CCD2”) and repealing Directive 2008/48/EC (“CCD1”).
A draft decree containing the Italian implementation of CCD2 is now under consultation. The consultation also includes a separate document with two questions directed at the market to gather information on strategic issues, not addressed in the draft decree, on deferred debit cards and debt advisory services.
The draft implementation decree, among other things, contains:
- amendments to the Legislative Decree No. 385/1993 (Consolidated Banking Act – “CBA”) to align with the new CCD2 provisions as regards, inter alia, the scope of application, advertising and pre-contractual information, deferred payments, and creditworthiness assessments;
- adjustments to the Italian domestic regime on credit intermediation. In this regard, the draft decree amends the definitions of agents and credit brokers currently set out in the CBA;
- the Italian rules on the admission, registration, and supervision of non-credit institutions and non-payment institutions to be adopted pursuant to Article 37 CCD2 and amendments to the exemptions currently provided under Italian law to the credit intermediation regime;
- the exercise of some of the discretions left to Member States by the CCD2, including a simplified regime for certain credit agreements that are not currently in the scope of CCD1.
Next steps
Interested parties have until 4 September 2025 to respond to the public consultation, available here (in Italian only).
All EU Member States must adopt and publish, by 20 November 2025, the laws, regulations and administrative provisions necessary to comply with CCD2, which will apply from 20 November 2026. CCD1 will continue to apply, save for exemptions, to credit agreements existing on 20 November 2026 until their termination.
[View source.]
