0:48 20 March 2026
Regulator clash over credit law
Poland’s financial regulator has issued an unusually harsh critique of the draft Consumer Credit Act prepared by UOKiK, calling it fundamentally flawed and warning it could destabilize the market. The law, meant to implement the EU’s CCD2 directive by November 2026, is already behind schedule and facing broad opposition.
The Polish Financial Supervision Authority (KNF) argues the draft exceeds EU requirements, including removing the €100,000 loan cap and imposing stricter creditworthiness checks. It also criticizes the legislative process as opaque, with limited consultation despite over 1,500 pages of feedback.
Particular concern surrounds expanded “free credit” sanctions, which could trigger mass litigation similar to Swiss franc loan disputes. KNF warns unclear rules may encourage lawsuits, legal uncertainty, and regulatory arbitrage.
Officials also say the proposal blurs institutional roles, burdens supervision, and risks pushing lending activity into the grey market rather than improving consumer protection.
