{"id":55339,"date":"2025-05-22T13:48:11","date_gmt":"2025-05-22T11:48:11","guid":{"rendered":"https:\/\/setterwalls.se\/?post_type=articles&#038;p=55339"},"modified":"2025-05-22T14:26:20","modified_gmt":"2025-05-22T12:26:20","slug":"swedish-parliament-approves-new-legislation-for-consumer-credit-providers","status":"publish","type":"articles","link":"https:\/\/setterwalls.se\/en\/article\/swedish-parliament-approves-new-legislation-for-consumer-credit-providers\/","title":{"rendered":"Swedish Parliament approves new legislation for consumer credit providers"},"content":{"rendered":"    <section class=\"block text bg-white\">\n        <div class=\"container container-sm\">\n            <div class=\"row\">\n                <div class=\"col-12\">\n                    <div class=\"editor-content\">\n                                                <p>On Wednesday 21 May, the Swedish Parliament approved a <a href=\"https:\/\/setterwalls.se\/en\/article\/the-government-moves-forward-with-legislative-proposal-to-increase-consumer-credit-related-regulations\/\">legislative proposal<\/a> to further regulate Swedish consumer credit providers (including intermediaries). The proposal \u2013 which has been criticised by market actors\u2013 repeals the Certain Consumer Credit-related Operations Act (2014:275) (<em>Sw. lag om viss verksamhet med konsumentkrediter<\/em>), which has previously been the regulatory regime for consumer credit institutions.<\/p>\n<p>To provide consumer credits going forwards and unless an exemption applies, a credit institution license under the Banking and Financing Business Act (2004:297) (<em>Sw. lag om bank- och finansieringsr\u00f6relse<\/em>) will be required. As such, consumer credit providers will be required to comply with e.g. capital requirements, strict risk management requirements and added reporting requirements.<\/p>\n<p>The legislation enters into force on 1 July, and includes a grandfathering period for existing authorised consumer credit institutions, for whom the Certain Consumer Credit-Related Operations Act will still apply until the end of July 2026 and will continue to apply for the duration of the licensing process for consumer credit providers which apply a banking of financing business license by July 2026.<\/p>\n                    <\/div>\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":11,"featured_media":54653,"template":"","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":""},"article_category":[1046],"class_list":["post-55339","articles","type-articles","status-publish","has-post-thumbnail","hentry","article_category-banking-and-finance"],"acf":[],"_links":{"self":[{"href":"https:\/\/setterwalls.se\/en\/wp-json\/wp\/v2\/articles\/55339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/setterwalls.se\/en\/wp-json\/wp\/v2\/articles"}],"about":[{"href":"https:\/\/setterwalls.se\/en\/wp-json\/wp\/v2\/types\/articles"}],"author":[{"embeddable":true,"href":"https:\/\/setterwalls.se\/en\/wp-json\/wp\/v2\/users\/11"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/setterwalls.se\/en\/wp-json\/wp\/v2\/media\/54653"}],"wp:attachment":[{"href":"https:\/\/setterwalls.se\/en\/wp-json\/wp\/v2\/media?parent=55339"}],"wp:term":[{"taxonomy":"article_category","embeddable":true,"href":"https:\/\/setterwalls.se\/en\/wp-json\/wp\/v2\/article_category?post=55339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}