On 13 January 2011, the European Parliament published a paper on the relationship between the proposed Consumer Rights Directive and financial services. The paper aims to describe potential overlaps and inconsistencies between the proposed Consumer Rights Directive and financial services law, as well as regulatory gaps that could arise if neither the Directive nor financial services law applies in a situation in which a consumer should be protected. It contains information about:  

  • the scope of the proposed Directive in relation to financial services;  
  • off-premises contracts, including an explanation about overlaps with information obligations contained in the Payment Services Directive (2007/64/EC); and  
  • unfair contract terms, including an explanation as to how the proposed Directive will amend the Unfair Contract Terms Directive (93/113/EEC).  

(The European Commission published its proposal for the Consumer Rights Directive in October 2008.)