On Nov. 20, 2025, DEN GVT published LOV 1322 of Nov. 20 transposing revised CCD.
The act enters into force on Nov. 20, 2026, with exceptions listed in its section 6.
S8c of Consumer Loan Companies Act as drafted in S3, no 21 of this Act, shall enter into force upon publication in the OG i.e. on Nov. 20, 2025.
It does not apply to credit agreements entered into before it enters into force cf. ss4.
S8 b, ss1, 2nd sentence, and ss2-3, S9, ss1-3, and S10, 27, 33 of Credit Agreements Act as amended by S1, no 18-20, 30, 32 of this Act, shall apply to credit agreements of unlimited duration entered into before the Act enters into force.
DEN FSA may receive and process applications for registration as a credit intermediary, cf. S3, n14, from May 20, 2026.
Credit intermediaries who carry out activities that, after entry into force of the Act, will require registration as credit intermediary, cf. S3, no 14 of this Act, and who have submitted application for registration no later than Nov. 20, 2026, may continue the business commenced without registration until DEN FSA makes decision in the matter.
The bill may be confirmed immediately after its adoption.
The Act does not apply to Faroe Islands and Greenland, but S3-5 may be brought into force in whole or in part for Faroe Islands by royal decree with amendments required by Faroese conditions; S1 and 3-5 may be brought into force in whole or in part for Greenland by royal decree with the amendments required by Greenland conditions.
On Oct. 14, DEN PRL issued bill implementing EU Dir 2023/2225.
DEN RPL announced L 19 proposal for or an Act to Amend Act on Credit Agreements, the Marketing Act, the Act on Consumer Loan Businesses, and Various Other Acts.
Overview
Bill aims to implement Directive 2023/2225 on credit agreements for consumers.
Consumer Credit Directive is fully harmonizing, i.e., as a general rule, no special national rules can be laid down within the scope of the directive; however, there are a number of regulatory options in some areas.
Bill proposes implementing dir with minimal exceptions; without over-implementation.
Act applies to consumer credit companies that offer credit agreements/credit intermediaries; credit intermediary, cf. section 2, no. 2, must be registered with the DEN FSA before it may carry out its activities and must meet certain conditions.
Consumer credit companies and credit intermediaries must ensure that all employees of the company who offer or arrange credit agreements have sufficient knowledge and competence within the area in which the company operates.
If a credit agreement includes ancillary services, the employees must have an appropriate level of knowledge and competence with regard to these ancillary services.
Bank and mortgage institution that offer home loan agreements to consumers must have appropriate policies and procedures that ensure that, where relevant, reasonable restraint is exercised before initiating a foreclosure proceeding.
The provisions required to implement the directive must be adopted and published by Nov. 20, 2025 and enter into force on Nov. 20, 2026.
Third reading of the bill is proposed to take place no later than Nov. 20, 2025.
Effectiveness
The Act enters into force on Nov. 20, 2026.
Section 8 c of the Consumer Loan Companies Act, as amended by section 3, no. 21 of this Act, shall enter into force upon publication in the Official Gazette.
Act does not apply to credit agreements entered into before Act enters into force, cf. however s 6(4) re credit agreements of unlimited duration; DEN FSA may receive and process applications for registration as a credit intermediary, from May 20, 2026.
Nov. 2025 Publication
On Nov. 20, 2025, DEN GVT published LOV 1322 of Nov. 20 transposing revised CCD.
The act enters into force on Nov. 20, 2026, with exceptions listed in its section 6.
S8c of Consumer Loan Companies Act as drafted in S3, no 21 of this Act, shall enter into force upon publication in the OG i.e. on Nov. 20, 2025.
It does not apply to credit agreements entered into before it enters into force cf. ss4.
S8 b, ss1, 2nd sentence, and ss2-3, S9, ss1-3, and S10, 27, 33 of Credit Agreements Act as amended by S1, no 18-20, 30, 32 of this Act, shall apply to credit agreements of unlimited duration entered into before the Act enters into force.
DEN FSA may receive and process applications for registration as a credit intermediary, cf. S3, n14, from May 20, 2026.
Credit intermediaries who carry out activities that, after entry into force of the Act, will require registration as credit intermediary, cf. S3, no 14 of this Act, and who have submitted application for registration no later than Nov. 20, 2026, may continue the business commenced without registration until DEN FSA makes decision in the matter.
The bill may be confirmed immediately after its adoption.
The Act does not apply to Faroe Islands and Greenland, but S3-5 may be brought into force in whole or in part for Faroe Islands by royal decree with amendments required by Faroese conditions; S1 and 3-5 may be brought into force in whole or in part for Greenland by royal decree with the amendments required by Greenland conditions.
Regulators
DEN GVT; DEN PRL
Entity Types
Bank; CNSM; IB; MG Orig; MSB
Reference
OG, LOV 1322, 11/20/2025; Bill, L19, 10/14/2025; CCD II Dir 2023/2225
