43In the light of such an objective, which seeks to ensure the effective protection of consumers against the irresponsible granting of credit agreements which are beyond their financial capacities and which may bankrupt them, Article 23 of Directive 2008/48 provides that the system of penalties applicable in the event of infringement of the national provisions concerning the assessment of the borrower’s creditworthiness prior to conclusion of the agreement, adopted pursuant to Article 8 of that directive, is to be established in such a way as to ensure that the penalties are effective, proportionate and dissuasive and, furthermore, that the Member States are to take all measures necessary to ensure that they are implemented. In addition, it can be seen from recital 47 in the preamble to that directive that, within those limits, the choice of penalties remains within the discretion of the Member States.
Source: EUR-Lex, © European Union, 1998-2026. Reuse authorised under Decision 2011/833/EU.