Spain
Key changes to the Spanish consumer-credit regime
The draft bill of the Consumer Credit Contracts Act, approved by the Council of Ministers on January 7, 2026 introduces significant changes to the consumer credit regime in Spain.
Key Aspects
- Spain is introducing a reserved-activity regime for professional consumer credit provision, requiring Bank of Spain authorization and registration in the relevant official register. Non-compliance will trigger significant administrative penalties, and may also affect the credit agreements themselves, both in civil and procedural terms. To this end, two new types of intermediaries are introduced: the "high-cost lender", for certain types of specialized high-cost credit; and a new category of credit institution, the "limited-activity credit finance institution" (or "EFCAL"), with a more restricted scope of permitted activities.
- A general cap on interest is established, together with a specific regime for high-cost credit. Non-compliance with these caps have civil-law consequences and may result in the agreement’s absolute nullity.
- New rules are introduced on credit intermediation, debt advisory services, credit granted on an ancillary basis (i.e., provided in connection with the sale of goods or the supply of services), and ancillary intermediation.
- In the area of insurance, the draft law incorporates a systematic regulatory framework on tying practices and bundling practices.
- The rules on linked credit agreements and the right of withdrawal, early repayment, early maturity and assignment of credit are reinforced, among other changes.
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