Regulatory Alerts2023-12-20
Finansinspektionen’s General Guidelines on Consumer Credit
Finansinspektionen issued these general guidelines to regulate the application of the Consumer Credit Act and related Swedish financial legislation for supervised undertakings. The document mandates rigorous credit assessment standards, requiring lenders to verify consumer data, assess payment capacity, and provide clear information regarding loan terms, interest changes, and housing costs. It further establishes detailed procedures for calculating interest differential compensation upon early repayment and sets strict obligations for lenders managing guarantees, third-party pledges, and account offsetting.
Share