Regulatory Alerts2011-02-03
Deliberations of the CICR and Urgent Decree of the Minister of Economy and Finance, President of the CICR, of 3 February 2011, No. 117
The Minister of Economy and Finance, as President of the CICR, issued an urgent decree to implement the Consumer Credit Directive (2008/48/EC) and update Italian transparency regulations. The decree mandates the Bank of Italy to establish detailed rules for calculating the APR, pre-contractual information, creditworthiness verification, and periodic communications to consumers. It also amends the 2003 transparency decree to align with new legislative requirements regarding intermediary obligations, contract terms, and client communications.
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