SOBERING NEWS – PARLIAMENT PASSES REQUIREMENT FOR CONSUMER CREDIT INSTITUTIONS TO OBTAIN A BANKING LICENSE

Today, the Swedish Parliament approved the proposal in the memorandum "Enhanced Consumer Protection in the Credit Market", stipulating that only credit institutions will be permitted to issue and broker consumer credit.

"Sweden is heading in the wrong direction – while Europe regulates products and introduces debt registers to protect consumers, we are choosing a path that makes things harder for both borrowers and businesses. There is a parliamentary majority in favor of a credit register, and now the government must act," says Roslana Cederhage ✨ Secretary General of SweFinTech.