EU Council has launched a proposal on consumer credits which should be carefully reviewed for future updates: COM (2021) 347: Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on consumer creditsDirective 2008/48/EC of the European Parliament and of the Council of 23 April 2008 on credit agreements for consumersThe Directive provides for a general framework on how competent authorities should regulate all matters related to interest rates.