Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-11-20-Speech-2-304-000"

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"en.20121120.28.2-304-000"2
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"The Consumer Credit Directive has two objectives: guaranteeing a high level of consumer protection and strengthening the internal market in cross-border consumer credit. We believe that the definitive harmonisation of some key aspects of credit law has undoubtedly significantly raised the level of consumer protection in Europe. The increase in the cross-border take-up of consumer credit would seem to have been insignificant, however. This may be because of the financial crisis. We are therefore asking the Commission to review the way the Directive has been transposed and urge the Member States to apply it correctly. Stakeholders should then be given time to get used to the new rules and gain experience of the way they are applied. We agree with the rapporteur that a detailed assessment should then be carried out of the legal and practical impact of the Directive and, on that basis, consideration be given to what, if any, amendments are required."@en1

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