Lunch meeting with Martha Buit 'Regulating Traditional Peer-to-Peer Lending: The Proposal versus the New Consumer Credit Directive'

On Friday 15 September, Martha Buit, PhD researcher at the University of Groningen and coordinator of the GCEFSL, organises a joint lunch meeting with the GCEFSL and the Department of Consitutional, Administrative Law and Public Administration. The topic of her presentation is 'Regulating Traditional P2P lending: The Proposal versus the New Consumer Credit Directive'.

The emergence of peer-to-peer (P2P) lending was not anticipated during the adoption of Directive 2008/48/EC, commonly referred to as the 2008 Consumer Credit Directive ('the 2008 CCD'). As a result, not all consumer-borowers taking part in P2P lending are currently protected by the 2008 CCD. In 2021, the European Commission introduced the Proposal for a New Consumer Credit Directive ('the Proposal'). While the Proposal sought to bring all forms of P2P lending under its scope of application, the forthcoming final version of the New Consumer Credit Directive ('the New CCD') will not explicitly address this form of alternative lending.

The lunch meeting will focus on this European gap in consumer protection. The presentation will provide an introduction into P2P lending and the traditional business model; highlight the shortcomings of the 2008 CCD; discuss the Proposal's suggested approach of implementation; explain the absence thereof in the New CCD; and suggest a new way of regulating traditional P2P lending by way of the Regulation on European Crowdfunding Service Providers for Business.

The lunch meeting will be held at room 1217.0433 4L of the Röling Building. There is also the opportunity to join the lunch meeting online.

Please register for the lunch meeting before 14 September by sending an e-mail to GCEFSL@rug.nl.