There may be no connection between the fiercely-resisted Block Exemption that comes into force this year and the EC's new consumer credit proposals, but the auto industry could be getting paranoid about the European Commission. Especially, perhaps, after its dawn raids on the offices of Peugeot, whose chairman happens to be the ACEA's current president. Toby Procter looks at the threat posed by the EC's proposal for a new directive to harmonise consumer credit laws.