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STOP Payday Loans

The DLA doesn't represent the interests of Payday Lenders!

What is a Payday Loan?

What kind of problem do we have with Payday Lenders?

Non-bank providers of Payday Loans often do not perform any credit check on consumers. This is neither in their interest nor in the interest of market integrity. We therefore welcome the revision of the EU Consumer Credit Directive, which considerably extends the scope of the legislative act and makes creditworthiness assessments mandatory for Payday Loans as well.

What advice we give to all consumers?

The directive came into force on 19th of November 2023. It must be transposed into national law in the EU member states by 19th of November 2025. Afterwards it must be implemented by 19th of November 2026.

Watch out until then! Especially in case of Payday Lenders‘ websites emphasizing the speed and simplicity of their services.


Fotocredits: Pixabay/ArtTower