The enactment of Law 5317/2026, implementing Directive (EU) 2023/2225 (Consumer Credit Directive 2 – CCD 2), represents a significant milestone in the evolution of Greece’s consumer credit framework.
The new legislation introduces a more comprehensive regulatory regime aimed at strengthening consumer protection, responsible lending and market transparency, while responding to the growing digitalisation of consumer finance.
Key changes include:
• A broader scope of application, extending to additional categories of consumer credit agreements;
• Enhanced advertising standards and pre-contractual disclosure obligations;
• More robust creditworthiness assessment requirements, including safeguards where automated decision-making is used;
• Strengthened consumer rights, including new protections relating to the cost of credit and early repayment;
• Increased compliance obligations for creditors and credit intermediaries.
With the new framework becoming applicable on 20 November 2026, organisations involved in consumer lending should take this opportunity to review their contractual documentation, customer communications, credit assessment procedures and internal compliance policies to ensure alignment with the forthcoming requirements.
At AK Legal, we closely monitor legislative and regulatory developments affecting the financial services sector and advise businesses on navigating complex regulatory changes, managing legal risk and achieving effective compliance.
For further information or to discuss your readiness, please contact us: info@aklegal.gr