The most significant changes introduced by the Implementation Decree concern creditworthiness assessments, pre‑contractual information requirements, mandatory disclosures to consumers, advertising restrictions, the provision of independent advice, and rules that cap the fees that credit offerors may charge consumers. Finally, several new obligations are linked to maximum administrative fines in case of non‑compliance. The changes are implemented in the Financial Undertakings Supervision Decree (BGfo Wft), the Credit Compensation Decree and the Administrative Fines Decree for the Financial Sector. We outline several key changes below. For a more complete overview of the intended amendments under the revised Consumer Credit Directive (2023/2225), please refer to our earlier news item on the Implementation Act for the revised Consumer Credit Directive.

Creditworthiness assessment

The most substantial amendments to the BGfo Wft relate to the rules governing creditworthiness assessments. Article 113 BGfo Wft abolishes the so‑called EUR 1,000 verification threshold. Under the current regime, lenders must verify information submitted by prospective borrowers for loans of EUR 1,000 or more - for example, by reviewing payslips as evidence of income. The Decree introduces an open verification norm, requiring lenders to verify information obtained from consumers where necessary and proportionate in light of the nature, duration, amount and risks of the credit. A second amendment concerns the threshold for consulting the Dutch credit registration system (BKR). At present, lenders must consult BKR for loans of EUR 250 or more. This threshold will be removed, meaning that BKR must also be consulted for small‑value credit. This is particularly relevant for providers of small‑ticket credit, such as buy now, pay later (BNPL) providers and telecom operators.

If the creditworthiness assessment for consumer credit involves automated processing of personal data, the consumer has the right to human intervention. Consumers may, for example, request an explanation of the assessment and ask for a review of the decision. The credit offeror must also inform the consumer if an application for consumer credit is rejected.

New Article 114a BGfo Wft introduces a periodic creditworthiness assessment for revolving credit. This concerns a creditworthiness assessment prior to a new drawdown if the previous assessment was carried out more than twelve months earlier. It is debatable whether the directive provides a clear legal basis for such periodic assessments for revolving credit. CCD II provides for maximum harmonisation (Article 42(1) CCD II), meaning that Member States may only adopt additional rules where the subject matter is not regulated in the Directive. Article 18 CCD II sets out when a consumer’s creditworthiness must be assessed: (i) before concluding a credit agreement, and (ii) before granting a significant increase of the total credit amount. A drawdown under a revolving credit facility does not increase the credit limit; it merely allows the consumer to borrow again within the existing limit.

Late payment fees for revolving credit

New Article 12 of the Credit Compensation Decree sets maximum late payment fees for revolving credit agreements under which payment may be deferred. This primarily affects BNPL products and cards with deferred debit. A late payment fee may be charged 14 days after a notice of default. The maximum fee is EUR 20 per notice and EUR 60 per calendar year, irrespective of the number of notices issued.

Other changes

Other amendments to the BGfo Wft include new requirements for the provision of information to consumers. Consumer credit offerors must now make general information about the credit they currently offer available free of charge - whether on their website, on paper, or on another durable medium - similar to mortgage credit offerors. Four new advertising prohibitions have also been introduced to enhance consumer protection. For the pre‑contractual phase, a lighter set of information requirements applies to certain types of credit agreements: (i) credit agreements for a total credit amount of less than EUR 200, (ii) credit agreements where credit is granted without interest or other charges, and (iii) credit agreements requiring repayment within three months and involving only insignificant costs. In these situations, certain pre‑contractual information does not need to be provided, as this is not expected to increase the level of consumer protection. In addition, Annex D to the BGfo Wft, the European Standardised Information Sheet (ESIC), has been re‑adopted.

Consultation on commission rules

The current commission rules provide that credit intermediaries may only receive ongoing remuneration from the credit offeror, not from the consumer. In the context of implementing CCD II, the legislator is reconsidering whether these rules still align with current consumer credit practices.

According to its legislative history, the purpose of the commission requirement is to prevent intermediaries from being incentivised to increase production through disproportionate commissions and to ensure that intermediaries have an interest in referring creditworthy borrowers. This objective primarily relates to intermediaries who introduce consumers to credit offerors. However, the definition of “intermediation” in the Wft - and as interpreted by the AFM - is broader and also includes assisting in the management and execution of credit agreements. Parties may currently apply to the AFM for an exemption for remuneration paid for “outsourced provider activities.”

Moreover, the current commission rule appears difficult to reconcile with the newly proposed Article 86.ga BGfo Wft. Under that article, independent advice requires that the adviser does not receive any remuneration from the credit offeror, unless a majority of the active market providers were considered in preparing the advice. In the consumer credit market, advisers frequently also act as intermediaries. If intermediaries follow the rule that no remuneration may be received from the creditor, they cannot receive any commission at all, resulting de facto in a commission ban. After all, under the BGfo Wft intermediaries may only be remunerated by the creditor, not by the consumer.

Entry into force

The Directive had to be transposed into national legislation by 20 November 2025, and its provisions must be applied by 20 November 2026 at the latest. The legislative process for both the Implementation Act and the Implementation Decree is still ongoing. Nevertheless, the intention is that the new legislation will enter into force no later than 20 November 2026. As a result, providers will have limited time to implement the new requirements. No specific timetable has been set for the consultation on the commission rules.

Contact

We would be pleased to assist you in identifying the implications of these changes for your organisation. If you have any questions about this or other matters relating to financial regulation, please contact our Financial Regulatory Team.