On 30 June 2021, the European Commission presented a proposal for a Directive of the European Parliament and the Council on consumer credits to repeal and replace Directive 2008/48/EC on credit agreements for consumers. The Proposal outlines the data that covered entities, including creditors, credit intermediaries and providers of crowdfunding credit services, are allowed to process in the creditworthiness assessment process. In particular, the Proposal states that covered entities can process only personal data related to the individual's financial and economic situation, such as financial, income, repayment, financial assets and liabilities data. Furthermore, the Proposal specifies that the personal data of individuals posted on social media platforms and health data should not be processed to determine individuals' creditworthiness. Finally, under the Proposal, the Member States have to require covered entities to inform consumers if they provide personalised offers based on profiling or other types of personal data automated processing systems.
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