AustriaVerbraucherkreditgesetz 2026 (VKrG 2026), Personalized Offers and Automated Creditworthiness Assessment (Sections 13 and 17(5))
Verbraucherkreditgesetz 2026 (VKrG 2026), BGBl. I Nr. 36/2026, Art. 2, §§ 13 and 17 Abs. 5
An AI sector rules rule binding public and private bodies.
As of .
What it requires
- This law is enacted but binds no one before , and applies only to credit agreements concluded after (section 45(1) and (2)).
- If you are a lender or a credit intermediary and make a consumer an offer that was personalized on the basis of automated processing of personal data, tell the consumer so clearly and comprehensibly (section 13).
- If you are a lender and your creditworthiness assessment involves automated processing of personal data, let the consumer demand and obtain human intervention on your side: give clear and comprehensible explanations of the assessment, including the logic and risks of the automated processing, let the consumer state his or her own view, and review the assessment and the decision to grant the credit when the consumer asks (section 17(5)).
- Inform the consumer of these rights (section 17(5), last sentence).
What this law does
The Verbraucherkreditgesetz 2026 implements Directive (EU) 2023/2225 on consumer credit agreements. A lender is a business that grants or promises to grant credit. Section 13 requires lenders and credit intermediaries to inform the consumer clearly and comprehensibly when they make an offer that was personalized on the basis of automated processing of personal data.
Where the creditworthiness assessment involves automated processing of personal data, section 17(5) lets the consumer demand and obtain human intervention on the lender's side. In particular, the consumer may obtain clear and comprehensible explanations of the assessment, including the logic and risks of the automated processing, may state his or her own view, and may obtain a review of the assessment and of the decision to grant the credit. The lender must inform the consumer of these rights.
The Act comes into force on and applies only to credit agreements concluded after , except as section 45(3) provides.
When LexLint raises it
When your app profile says your app makes high-risk automated decisions or provides financial services.