Commission decides to refer BULGARIA, SPAIN, HUNGARY, NETHERLANDS, AUSTRIA, PORTUGAL and FINLAND to the Court of Justice of the European Union for failing to transpose the Directive on Non-Performing Loans

Today, the European Commission decided to refer Bulgaria, Spain, Hungary, Netherlands, Austria, Portugal, and Finland to the Court of Justice of the European Union for failing to transpose the Directive on Non-Performing Loans (Directive(EU) 2021/2167). This Directive is vital for creating a secondary market for non-performing loans, setting rules for credit purchasers and servicers, and ensuring consumer protection. Despite reminders and warnings, these countries have not fully complied with the directive, necessitating legal action. The Commission seeks financial penalties to enforce compliance and ensure a stable financial environment across the EU.