Hubert Łączkowski

At the end of 2023, European Union bodies concluded trilogue negotiations on the draft Artificial Intelligence Act (AI Act) . Representatives from the European Commission, the European Parliament and the Council reached an agreement on the AI Act, the aim of which is to ensure the protection of fundamental rights, democracy and the rule of law in relation to the use of AI solutions within the European Union, while boosting innovation and making Europe a leader in the field of AI.

As of the new calendar year, lending institutions will be subject to Financial Supervision Authority (KNF) institutional oversight, and the respective legislative changes stem from the Anti-usury Act . On one hand, the Anti-usury Act imposes a range of new obligations on lending institutions, while on the other it gives the KNF tough oversight powers that extend far beyond the current power to keep a register of lending institutions and formally examine eligibility for registration. This article will focus on the major amendments to the Consumer Credit Act (UKK) that will soon affect or already affect the Polish lending sector, taking into consideration as well the recently adopted new EU Consumer Credit Directive (CCD2).