Spain: Government Proposes to Tighten Consumer Credit Rules

In brief

On 7 January 2026, the Spanish Council of Ministers approved a draft bill to amend consumer credit contracts rules in Spain and launched a public consultation that closed on 30 January 2026.

This legislative package is designed to incorporate into Spanish law both the new Consumer Credit Directive (EU) 2023/2225 (CCD II) and the new Distance Marketing of Financial Services Directive (EU) 2023/2673, updating domestic rules to reflect new EU wide standards for consumer lending and online financial services.

Together, these proposals represents a paradigm shift:

• From a lightly regulated market
• To a more supervised and consumer centric credit system

It is particularly impactful for fintechs, buy now pay later (BNPL) providers, micro lenders, and revolving credit issuers, as Spain goes well beyond EU minimum harmonization in cost controls and supervision.

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