Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-01-16-Speech-3-190"
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"en.20080116.9.3-190"2
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".
The report by Mr Lechner on opening up the European consumer loans market was adopted today.
It seems to me that changing a market that until now has been strongly national into a European market, while maintaining a high level of consumer protection, is the first step towards harmonising the rules on consumer credit.
The risk for consumers of getting into debt remains far too high. Control and transparency by setting up databases of the creditworthiness of every consumer seems essential.
Like most of my colleagues, however, I voted against Amendment 29 on Article 16, and I am pleased it was rejected. To my mind, this point genuinely penalised consumers who decide to repay their loan early.
Offering consumers the possibility of paying off a loan before its term constitutes a good initiative. It should not be spoiled by giving the lender the option of claiming compensation for any costs where this is not fair or justified.
It was therefore necessary to set limits. The lender will not therefore be able to claim compensation of more than 1% of the value of the credit."@en1
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