Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-11-20-Speech-2-301-000"
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"en.20121120.28.2-301-000"2
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Companies that offer consumer credit must provide consumers with clear and accurate information about their offerings. However, the implementation of the EU Consumer Credit Directive, as undertaken by the Member States by the middle of 2010, leaves something to be desired. It was established that on 70 % of websites on which financial institutions are offering consumer credit agreements, key information is missing or the presentation of costs is misleading. This is even more important in the case of cross-border credit, for which easily comprehensible information on foreign currency lending and the costs of additional services is essential when choosing credit. I very much welcome the fact that the existing deficiencies in the implementation of the Consumer Credit Directive have been exposed. This once again constitutes one of many examples of situations in which the EU has created, out of 27 different sets of national regulations, a single Directive that is intended to benefit consumers, but the Member States have failed to implement it correctly and as a result the purpose of the Directive, namely to protect consumers, has fallen by the wayside."@en1
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