Draft Bill on credit servicers and credit purchasers

Key aspects

• The Bank of Spain is designated as supervisor of the obligations resulting from this regulation, in cooperation with other EU competent authorities.
• The Draft Bill covers non-performing credit rights and agreements, while excluding those that are performing.
• The new regulation will also apply to loans originated by financial credit establishments.
• The Draft Bill applies to credit institutions and financial credit establishments selling credit agreements or performing credit servicing activities.