Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-11-20-Speech-2-304-875"

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"en.20121120.28.2-304-875"2
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". This report sets out basic guidelines for building a financial system at European level capable of providing consumers with correct information. Availability of consumer credit places financial sector facilities at the disposal of national economies but, at the same time, it could entail risks if appropriate practices are not respected. That is why I support the rapporteur’s request in calling on the Commission to assess the extent of compliance with information duties in contracts governing consumer credit. Furthermore, I am in favour of the proposal to extend consumer protection to short-term credit, provided over the internet or other types of quick credit (for example SMS loans) which are not currently covered by the directives in force. In conclusion, increased consumer protection can only be positive in this matter. Bad practices (which led some Member States to extend the scope of Directive 2008/48/EC to other financial products, such as mortgages) have disastrous consequences at a time of economic crisis."@en1

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