Banking and Finance law addresses the legal footing for the structuring and formalization of structured finance, refinancing and capital market operations. It ranges from asset financing through loans or lines of credit, with or without collateral, to consumer credit or leasing agreement operations.

The Legal framework on Consumer Credit Agreements in Spain

In Spain, Law 16/2011 derogated the previous legal regime (dating back to 1995) and transposed Directive 2008/48 of 23 April 2008 on credit agreements for consumers (the “Directive”) into Spanish law. Law 16/2011 reproduces the provisions of the Directive. Furthermore, where the Directive has failed to include specific provisions, the old regime has been maintained or even extended to new scenarios, with the aim of increasing the protection granted to Spanish consumers.