The purpose of this consultation is to invite comments on the draft revised OECD Recommendation on Consumer Protection in the field of Consumer Credit [OECD/LEGAL/0453] (hereafter, “draft revised Recommendation”).
Consultation on the draft revised OECD Recommendation on Consumer Protection in the field of Consumer Credit
Public consultation
- Submission period
- 12 June - 2 July 2025
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Purpose of this consultation
The draft revised Recommendation has been developed by the OECD Working Party on Financial Consumer Protection, Education & Inclusion (hereafter, "Working Party"). The draft revised Recommendation is a work in progress. Its content is without prejudice to the final text that will be adopted by the OECD Council. Inputs collected during the consultation will be taken into account to finalise the draft revised Recommendation.
The current version of the Recommendation was adopted on 2 July 2019. The Recommendation aims at promoting best practice approaches and policies for the regulation of consumer credit products and services, to promote fair treatment of consumers via affordable and suitable credit products, and to prevent over-indebtedness which is detrimental to both consumers and businesses.
If you want to know more about the OECD work on financial consumer protection, please visit OECD Financial Consumer Protection.
Development and summary of the draft revised Recommendation
Over the course of 2024, the Working Party, under the authority of the OECD Committee on Financial Markets (CMF), undertook a review of the implementation, dissemination and continued relevance of the Recommendation and developed a Report on the implementation of the OECD Recommendation on Consumer Protection in the field of Consumer Credit (hereafter, “Report”). The Report was published on 18 February 2025.
In line with the conclusions of the Report, the draft revised Recommendation addresses the following areas:
- Alignment with the G20/OECD High-Level Principles on Financial Consumer Protection [OECD/LEGAL/0394], including aligning relevant text and numbering of existing provisions and adding two new provisions:
- New provision III, on access and inclusion, and
- New provision VIII, on quality financial products
- Increasing use of digital technology (e.g. artificial intelligence, algorithms)
- Enhanced protection for consumers experiencing vulnerability
- Debt collection practices
- New forms of credit and credit-like products, such as buy-now-pay-later products.
How to respond
The consultation period is open from 12 June to 2 July 2025. Please send your comments in writing to: Tommaso.Majer@OECD.org and Tanjana.Islam@OECD.org.
All comments received will be considered public and may be published on the OECD’s website. If you do not wish your comments to be shared, please indicate this in your email.
To assist you when providing comments on the draft revised Recommendation, please find below the consultation questions:
a. Do you support the proposed revisions to the Recommendation to align it with the G20/OECD High-Level Principles on Financial Consumer Protection?
b. Do you support the proposed revisions to the Recommendation to address the increasing use of digital technology (e.g. artificial intelligence, algorithms) in consumer credit markets?
c. Do you support the proposed revisions to the Recommendation to address consumer vulnerability in consumer credit markets?
d. Do you support the proposed revisions to the Recommendation to address unfair debt collection practices?
e. Do you support the proposed revisions to the Recommendation to address the emergence of new forms of credit and credit-like products, such as buy-now-pay-later services?
What is an OECD Recommendation?
An OECD Recommendation is a legal instrument adopted by the OECD Council. OECD Recommendations represent a political commitment to the principles they contain and an expectation that Adherents will do their best to implement them.
For more information, please consult the online Compendium of OECD Legal Instruments.