Since 1995 the Commission has repeatedly reviewed the operation of directive 87/102/EEC for the approximation of the laws, regulations and administrative provisions of the member states concerning consumer credit. This was regarded to be necessary mainly for two reasons: firstly, even at the time of the enactment of the original directive its level of protection was lower than in most member states; secondly, the Commission repeatedly emphasised several changes, which had taken place in regard to the credit services sector in recent years. Whereas the previous directive was targeted at the two most common “products” at that time, namely hire purchase agreements and instalment credit and reflected the cash-based society of that time, the range of products presently offered is much more colourful.