Cătălin Gabriel Stănescu, Reader in Law at Newcastle University and member of the European Commission’s Financial Services Users Group. Photo credit: BNP Paribas HQ, by Boubloub, via Wikimedia Commons A pending reference from the Greek Council of State brings an old question back before the Court of Justice: when credit is transferred to a purchaser and its administration and recovery are entrusted to a separate company, how should EU financial law classify the activities of that company? In Trapeza tis Ellados II, C-210/26, the Court is asked whether an undertaking engaged exclusively in credit servicing, without assuming credit risk, qualifies...