Regulatory Alerts2026-05-07
Information on Application for Permission to Conduct Credit Servicing Activities
Finanstilsynet has issued guidance on the new Act on Credit Servicing Companies and Credit Buyers, which implements the EU NPL Directive and establishes regulatory frameworks for the secondary market of non-performing loans while protecting borrower rights. The regulation requires companies previously licensed for debt collection to submit applications for credit servicing permissions by 29 February 2024 to utilize a six-month transitional arrangement allowing continued operations until 29 June 2024 or a final decision. Credit buyers and credit institutions are simultaneously reminded of their new disclosure obligations under the updated legal framework.
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