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Consumer credit: no sunset in sight?

© Copyright LexisNexis 2026. All Rights Reserved.
17 March 2023 / Fred Philpott
Issue: 8017 / Categories: Features , EU , Brexit , Commercial , Financial services litigation
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With the revocation of remaining EU legislation on the horizon, Fred Philpott highlights the challenges & opportunities for consumer credit law
  • The Retained EU Law (Revocation and Reform) Bill, if it becomes an Act, will repeal, revoke or reform most of the EU retained law. But this does not apply to UK consumer credit law, a significant part of which is derived from EU legislation.

The Retained EU law (Revocation and Reform) Bill has been described by Professor Michael Zander KC as one of the worst pieces of legislation he can remember in 60 years of following the law-making process (‘Taking back control over retained EU law (Pt 2)’, 172 NLJ 8007, p14).

In very basic outline, the Bill will revoke or reform all EU-derived legislation at the end of this year. This is subject to many exceptions and the ability of government to extend that provision until the tenth anniversary of the Brexit vote (ie June 2026).

Financial services, including consumer credit, are outside

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