New European rules on consumer credit transposed into Belgian law
On 9 July 2026, the Belgian Parliament adopted an act (available in Dutch and French) transposing the European Directive on consumer credit (CCD II). CCD II will overhaul the previous Directive of 2008 on consumer credit (CCD I), as CCD I does not provide consumers with sufficient protection against current major changes in the credit market, namely the emergence of digital services and new products such as ‘buy now, pay later’ schemes (BNPL).
The Belgian transposition act represents a significant step forward in the campaign against over-indebtedness. One of the most significant innovations is the extension of the scope of Belgian consumer credit legislation to include certain forms of deferred payment and smaller loans which are currently wholly or partly excluded from these regulations. The European and Belgian legislator are targeting BNPL products in particular.
In the context of the current new digitized environment, the European and Belgian legislator are aiming for responsible lending, clear and balanced information provision, and a thorough assessment of creditworthiness before credit is granted. As a result, information requirements are being tightened, and consumer rights are being enhanced.
It is advisable for lenders, credit intermediaries, fintechs and e-commerce enterprises to assess thoroughly what impact this reform will have on their products, documentation and compliance procedures.
Subject to certain exceptions, this transposition act will come into force on 20 November 2026 and will therefore apply to credit agreements where the credit has been applied for with the credit provider on or after that date. Credit providers must ensure that their amended credit agreements templates (in accordance with the transposition act) are submitted to the FPS Economy for approval by 20 November 2026 at the latest.
We are closely monitoring further developments. For further information, please contact your CMS client partner or CMS experts within the Banking & Finance team.
