The European Court of Justice (ECJ) has recently ruled regarding the right of withdrawal according to the Distance Marketing of Financial Services Directive. The ruling was initiated for a preliminary question submitted by a German court. According to this ruling the right of withdrawal may expire, if the agreement is already fulfilled and if the bank has pointed out to the customer the shorter expiration date. In the precedent case a couple wanted to withdraw from a loan agreement with a bank after nine years; they claimed that they were informed incorrectly about their right of withdrawal (C-143/18).
ECJ: Withdrawal after nine years – not admissible
