What Does the Consumer Credit Directive Require, Belgium (CCD II / Directive (EU) 2023/2225)

Understanding what does the consumer credit directive require is now an urgent priority for every lender, credit intermediary and buy-now-pay-later (BNPL) provider active in Belgium. Directive (EU) 2023/2225, commonly known as CCD II or the Consumer Credit Directive II, must be applied across the EU from 20 November 2026, replacing the original 2008 Consumer Credit Directive (2008/48/EC). The new framework dramatically expands the scope of regulated consumer credit, tightens creditworthiness assessment obligations, overhauls pre-contractual information requirements and, for the first time at EU level, brings most BNPL arrangements squarely within regulatory reach.

This guide provides a Belgium-specific compliance checklist, covering timelines, required checks, advertising rules, SECCI templates and operational workflows, so that Belgian market participants can move from gap analysis to full readiness before the deadline.

Last reviewed: 24 May 2026. Readers should monitor the Belgian Moniteur Belge / Belgisch Staatsblad for the definitive transposition texts.

TL;DR, What Does the Consumer Credit Directive Require for Belgian Lenders?

For compliance officers and in-house counsel short on time, the core obligations under CCD II can be distilled into five immediate action areas:

• Scope expansion. CCD II captures BNPL products, small-value credits previously excluded and most interest-free deferred-payment arrangements. Belgian lenders must inventory every consumer credit product and classify it against the new definitions.
• Creditworthiness assessment. A thorough, documented creditworthiness assessment is mandatory for every covered credit agreement, including proportional checks for BNPL. Automated decision-making must include explainability safeguards.
• Pre-contractual information. Standardised European Consumer Credit Information (SECCI-style) forms must be provided on a durable medium in good time before the consumer is bound. Belgium requires delivery in the consumer’s language (French, Dutch or German depending on the region).
• Advertising transparency. All advertising for consumer credit must include clear, prominent APR disclosures and a standardised representative example. Misleading affordability messaging is expressly prohibited.
• 14-day right of withdrawal. Consumers retain the right to withdraw from a distance credit agreement within 14 days without giving any reason, subject to limited exceptions under Belgian transposition.

The sections below unpack each obligation in operational detail and map it to Belgian law and practice.

Timeline and Legal Sources, What Applies When

Key EU Dates

CCD II followed a multi-year legislative journey. The European Commission published its legislative proposal in June 2021, responding to the growth of digital credit, BNPL products and identified weaknesses in the 2008 Directive. The European Parliament and Council adopted the final text on 18 October 2023, and it was published in the Official Journal on 30 October 2023.

Under Article 46 of Directive (EU) 2023/2225, Member States were required to adopt and publish the transposition measures by 20 November 2025. Those measures must then be applied from 20 November 2026. The one-year gap between transposition and application is designed to give industry time to update systems, templates and processes.

Belgian Transposition Status

Belgium’s consumer credit framework is principally housed in Book VII of the Code of Economic Law (CEL) and the accompanying Royal and Ministerial Decrees. The Belgian government has been preparing a transposition package consisting of amendments to Book VII CEL and an Implementation Decree aligning Belgian rules with CCD II obligations. As noted by Loyens & Loeff, the Implementation Decree for CCD II has been subject to public consultation and introduces detailed rules on creditworthiness data sources, pre-contractual information formatting and BNPL classification thresholds.

Industry observers expect the final Belgian transposition texts to be published in the Moniteur Belge in the coming months. Lenders and credit intermediaries should not wait for final publication, the Directive itself is sufficiently detailed to begin operational planning now.

Scope: Which Products Are In and Which Are Out Under Consumer Credit Directive II

CCD II significantly widens the product scope compared to the 2008 Directive. Understanding what falls within the perimeter is the essential first step in any compliance project.

BNPL Classification

One of the most consequential changes is the inclusion of most buy now pay later Belgium arrangements within the definition of consumer credit. Under CCD II, credit agreements where repayment is deferred or split into instalments, even where no interest or charges are levied, generally fall within scope unless they meet narrow exclusions. The previous exclusion for interest-free credit repayable within three months with only insignificant charges has been tightened considerably. As A&O Shearman has noted, BNPL providers that previously operated outside the regulated perimeter will need to obtain authorisation, perform creditworthiness checks and provide standardised disclosures.

Small-Value Credits and Exclusions

The Directive covers credit agreements from €200 up to €100,000. CCD II also captures:

• Authorised overdrafts on current accounts (specific simplified rules apply for overdrafts repayable within one month).
• Credit cards and revolving credit facilities.
• Instalment credit agreements for goods and services.
• Hiring or leasing agreements where the contract includes an option or obligation to purchase.

Key exclusions remain for mortgage credit agreements (governed by the Mortgage Credit Directive 2014/17/EU), credit granted by an employer to employees under specific conditions, and certain securities-based lending. Belgian lenders should cross-reference the Belgian transposition drafts with these EU-level carve-outs, as Belgium has historically maintained stricter consumer protection standards than the Directive minimum.

Creditworthiness Assessment, New Rules and Belgium Mapping

The creditworthiness assessment Belgium obligations under CCD II represent a material upgrade from the 2008 regime. Article 18 of the Directive requires creditors to carry out a thorough assessment of the consumer’s creditworthiness before concluding a credit agreement or significantly increasing the total amount of credit.

Required Checks and Permitted Data Sources

The assessment must be based on relevant and accurate information about the consumer’s income, expenses, financial situation and personal circumstances. CCD II explicitly requires creditors to consult relevant databases, in Belgium, this means the Centrale des Crédits aux Particuliers (CCP) maintained by the National Bank of Belgium, which records both positive and negative credit data.

An operational checklist for Belgian lenders performing creditworthiness assessments under CCD II should include:

• Income verification. Obtain documentary evidence of income (payslips, tax returns, bank statements) proportionate to the credit amount.
• CCP consultation. Query the Centrale des Crédits aux Particuliers for existing credit commitments and any defaults.
• Expense analysis. Assess recurring financial commitments, including rent, existing loan repayments and maintenance obligations.
• PSD2/open-banking data. Where the consumer consents, account information from PSD2-authorised providers can supplement traditional documentation, though it cannot be the sole basis for assessment.
• Affordability buffer. Apply a stress scenario (e.g., interest rate increase for variable-rate credit) to verify the consumer can still service the debt under adverse conditions.
• Documentation and audit trail. Record every data point, its source, the assessment methodology and the outcome. CCD II requires that assessments be fully documented and available for supervisory review.

Vulnerable Consumers and Automation Pitfalls

CCD II introduces heightened duties around consumers in vulnerable situations. Recital 49 of the Directive emphasises that automated credit-scoring systems must not discriminate on protected grounds and must allow the consumer to request human review of automated decisions. Belgian lenders relying on algorithmic decisioning must ensure their models are explainable, auditable and compliant with both CCD II and the EU AI Act’s requirements for high-risk AI systems used in credit scoring.

The likely practical effect for Belgian institutions will be a requirement to implement a documented “human-in-the-loop” escalation process for automated refusals. Compliance teams should coordinate with their data-protection officers to ensure alignment with GDPR Article 22 (automated individual decision-making) simultaneously.

Multi-Borrower and Joint Liability Checks

Where a credit agreement involves multiple borrowers or guarantors, the creditworthiness of each individual must be assessed. CCD II does not permit creditors to aggregate household income without independently verifying each borrower’s capacity. Belgian law under Book VII CEL already requires individual assessment, and the transposition is expected to reinforce this with explicit procedural requirements. Lenders offering joint credit facilities or guarantor-backed consumer loans should review their onboarding flows to ensure each party undergoes a standalone assessment.

Pre-Contractual Information, SECCI and Templates

Providing clear, standardised pre-contractual information Belgium is a central pillar of what does the consumer credit directive require. CCD II mandates that consumers receive comprehensive information in good time before they are bound by a credit agreement or offer, enabling them to compare products and make informed decisions.

SECCI Elements and Belgian Wording

The Standard European Consumer Credit Information (SECCI) form has been a cornerstone of EU consumer credit regulation since 2008. Under CCD II, the content requirements are updated and expanded. Annex I of Directive (EU) 2023/2225 prescribes the following minimum information fields:

• Identity and contact details of the creditor and, where applicable, the credit intermediary.
• Type of credit (instalment loan, revolving credit, overdraft, BNPL, etc.).
• Total amount of credit and conditions governing the drawdown.
• Duration of the credit agreement.
• Borrowing rate (fixed or variable) and conditions for changing the rate.
• Annual Percentage Rate of Charge (APR), calculated using the total cost of credit to the consumer.
• Amount, number and frequency of repayment instalments.
• Total amount payable by the consumer over the life of the agreement.
• Sureties required, if any.
• Right of withdrawal, existence, conditions and period.
• Early repayment rights and any compensation payable to the creditor.
• Right to a draft credit agreement upon request.
• Consequences of missing payments, including default interest rates and any impact on the consumer’s credit record.

In Belgium, the SECCI must be provided in the consumer’s official language, French in Wallonia and Brussels (for French-speaking consumers), Dutch in Flanders and Brussels (for Dutch-speaking consumers), and German in the German-speaking community. Creditors operating across regions must maintain templates in all three languages. Industry observers expect the Belgian Implementation Decree to specify formatting requirements (font size, layout, durable medium) consistent with Book VII CEL.

Right of Withdrawal and Exceptions (14-Day Cooling-Off)

CCD II preserves the consumer’s 14-day right of withdrawal for credit agreements concluded at a distance or off-premises. During this cooling-off period Belgium, the consumer may withdraw from the credit agreement without giving any reason and without penalty, provided they repay the capital and accrued interest without undue delay.

Limited exceptions apply, for example, where the credit is linked to the supply of goods or services and the consumer has already received those goods. Belgian transposition may introduce specific notification requirements (e.g., the format and address for withdrawal notices). Lenders should ensure their post-contract confirmation communications clearly explain the withdrawal right, the deadline and the practical steps the consumer must take.

Advertising and Marketing Rules for Consumer Credit in Belgium

Advertising consumer credit Belgium under CCD II is subject to significantly tightened transparency requirements. The Directive aims to prevent misleading affordability messaging and ensure consumers can identify credit advertising at a glance.

Required Disclosures for Ads

Any advertising that indicates an interest rate or any figures relating to the cost of credit must include the following, presented clearly and prominently:

• The borrowing rate (fixed or variable, and if variable, the reference rate).
• The total amount of credit.
• The APR, by means of a representative example.
• The duration of the credit agreement.
• The total amount payable and the amount of instalments.
• A clear warning that borrowing money costs money (or equivalent consumer alert).

CCD II also prohibits advertising language that creates a false impression of easy access to credit or trivialises the commitment involved. Phrases such as “instant approval” or “no questions asked” are likely to be considered non-compliant if they suggest creditworthiness checks are unnecessary or superficial.

Online Checkout and Promotional Banners

For BNPL and point-of-sale credit promotions displayed at online checkout, the challenge is fitting mandatory disclosures into limited screen space. CCD II requires that disclosures be visible on the same screen or immediately accessible (e.g., via a single-click overlay that does not require the consumer to navigate away). Belgian enforcement authorities, primarily the FPS Economy (SPF Économie), are expected to scrutinise digital advertising closely. Lenders and merchants should conduct a full audit of checkout flows, display ads and email marketing templates to ensure every promotional communication meets the disclosure standard. For context on how other jurisdictions approach interest-rate transparency in lending, see our analysis of interest-rate cap recalibration for financing and lending firms.

BNPL-Specific Obligations and Workflows Under CCD II

The inclusion of BNPL within the Consumer Credit Directive II is arguably the single most disruptive change for the Belgian market. Many BNPL operators, both domestic fintech providers and international platforms, have historically relied on exemptions to avoid full credit regulation. That approach ends on 20 November 2026.

BNPL Creditworthiness Workflow

Buy now pay later Belgium providers must implement a creditworthiness assessment workflow proportionate to the risk profile of the credit. For low-value, short-duration BNPL transactions, the Directive allows a proportional approach, but “proportional” does not mean “none.” At a minimum, BNPL providers must:

1. Identify the consumer and verify their identity in line with anti-money-laundering requirements.
2. Consult the CCP (Centrale des Crédits aux Particuliers) for existing credit obligations and defaults.
3. Assess ability to repay based on available data, income proxies, account history or open-banking data where consented.
4. Document the assessment and retain records for supervisory purposes.
5. Decline credit where the assessment indicates the consumer cannot afford repayment without hardship.

For higher-value or longer-duration BNPL arrangements, the full creditworthiness assessment framework applies, identical to that required for traditional instalment credit. Early indications suggest Belgian supervisors will not tolerate a “light-touch” approach even for low-value BNPL, consistent with Belgium’s long-standing consumer protection philosophy.

Merchant Disclosures and Merchant Agreements

Under CCD II, the relationship between BNPL providers and merchants also comes under scrutiny. Where a merchant acts as a credit intermediary (by presenting BNPL options at checkout), the merchant must comply with intermediary disclosure rules, including identifying the creditor, disclosing any commission arrangements and ensuring the consumer receives pre-contractual information before committing.

BNPL providers must update their merchant agreements to allocate compliance responsibilities clearly: who provides the SECCI, who performs the creditworthiness check, who handles the withdrawal notice and who bears liability for non-compliance. Merchants that embed BNPL at checkout without adequate disclosure face enforcement risk under both CCD II and Belgian consumer-protection rules. For a broader look at how banks handle customer-facing obligations, including when accounts are blocked or restricted, see our practical guide on why bank accounts are blocked and what businesses should do.

Operational Checklist and Compliance Project Plan

Belgian lenders and credit intermediaries that have not yet started their CCD II compliance projects face a narrowing window. The following checklist provides a structured approach:

• Product inventory. Catalogue every consumer credit product (loans, cards, overdrafts, BNPL, leasing) and map each against CCD II scope definitions.
• Gap analysis. Compare current policies, procedures and templates against each CCD II obligation, creditworthiness, pre-contractual info, advertising, withdrawal rights, BNPL onboarding.
• Policy and procedure updates. Draft revised credit policies, risk-appetite statements and creditworthiness assessment procedures.
• IT and system changes. Update credit-decisioning engines, CRM systems, document-generation tools and CCP interfaces to capture required data and produce compliant outputs.
• Template overhaul. Redesign SECCI forms, advertising templates, withdrawal-notice forms and post-contract communications in all three Belgian languages.
• Staff training. Train frontline staff, underwriters, marketing teams and complaints handlers on CCD II requirements and Belgian-specific rules.
• Merchant agreement review. For BNPL providers: update merchant contracts to allocate disclosure, assessment and complaint-handling responsibilities.
• Audit trail and record-keeping. Implement data-retention policies ensuring creditworthiness assessments, SECCI deliveries and consent records are stored for the period required under Belgian law.
• Testing and simulation. Run end-to-end testing of credit application journeys, advertising mock-ups and withdrawal processes against the checklist.
• Consumer complaints process. Establish or update an internal complaints mechanism for credit-related disputes, aligned with CCD II requirements and Belgian ADR frameworks.
• Supervisory liaison. Engage with the FSMA and FPS Economy to confirm interpretation of Belgian transposition requirements and participate in any industry consultation rounds.
• Board and senior management sign-off. Ensure governance bodies approve the compliance roadmap, budget and risk assessment before the 20 November 2026 deadline.

12-week sprint plan (for lenders behind schedule): Weeks 1–3: product inventory + gap analysis. Weeks 4–6: policy drafting + IT specification. Weeks 7–9: template redesign + staff training. Weeks 10–12: testing, remediation and sign-off. For organisations with a longer runway, a six-month phased plan allows deeper testing, regulatory engagement and iterative template refinement.

Comparison Table, CCD II Obligations by Entity Type

Conclusion, What the Consumer Credit Directive Requires and What Comes Next

The question of what does the consumer credit directive require is no longer theoretical for Belgian market participants, it is an operational imperative with a firm deadline. CCD II introduces a more demanding, more inclusive and more consumer-protective regime than its predecessor. Lenders, BNPL providers and credit intermediaries that delay their compliance programmes risk supervisory action, reputational damage and contractual invalidity challenges from consumers. With 20 November 2026 approaching, the time to act is now: complete the gap analysis, update systems and templates, and secure expert legal guidance to navigate the Belgian transposition with confidence.

Sources

1. Directive (EU) 2023/2225 (CCD II), EUR-Lex
2. European Commission, Consumer Credit Policy Page
3. Loyens & Loeff, Implementation Decree CCD II
4. Directive (EU) 2023/2225, EUR-Lex PDF
5. A&O Shearman, BNPL Impact of the New EU Consumer Credit Directive
6. Noerr, Draft Bill on Implementation of EU Consumer Credit Directive