Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-11-20-Speech-2-299-577"

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". − Because some countries have failed to adhere to the deadlines for transposition of regulations concerning the functioning of financial institutions, there is coming to be a need to monitor their implementation with a view to securing the interests of consumers. Further clarity is needed at least as far as the discrepancies associated with interpretation of the period for withdrawal from a credit agreement are concerned. Particular attention needs to be devoted to the exertion of pressure on financial institutions to make them provide consumers with exhaustive information that is comprehensible and meets their needs regarding the risk of taking out loans in foreign currencies before any agreement has been signed. Last year’s review on consumer credit websites revealed – in the case of almost half of these sites – a lack of mandatory information, chiefly relating to costs and the duration of agreements, and consequently information of exceptional importance. The increasing popularity of SMS loans is also deserving of attention; although it has many advantages, it can quite often lead the potential client into a particular situation with no exit. We should strive to ensure that there is effective protection for consumers in this area. I support the report."@en1

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