The aim of this article is twofold against this background.
Next, it tries to evaluate as to what extent the 2008 credit rating Directive is fit for the function today so far as the customer security against reckless financing techniques can be involved. The analysis commences by having a research of this basic meaning of вЂњresponsible lendingвЂќ when you look at the context of customer creditвЂ”that is, unsecured credit given to individual, home, or domestic purposes. Building upon the contours for the idea of accountable financing which has emerged out of this quest, plus the outcomes of the study that is empirical because of the writers, this article afterwards identifies the essential imminent reckless lending methods into the credit rating markets over the EU and tentatively analyses their key motorists. The empirical study involved several semi-structured interviews with the representatives of the consumer organizations and national competent authorities aimed at verifying the preliminary findings and obtaining further information on the problematic aspects of consumer credit, both in old and new Member States in addition to the desk research.