Consumer credit: MEPs adopt new EU rules.

0 Comments | M2 Presswire, January, 2008

M2 PRESSWIRE-16 January 2008-EUROPEAN PARLIAMENT: Consumer credit: MEPs adopt new EU rules(C)1994-2008 M2 COMMUNICATIONS LTD

RDATE:16012008

MEPs today adopted new rules aimed at stimulating the EU market in consumer credit. Two out of three Europeans use credit to buy furniture, a washing machine or a car. But the vast majority seek lending only in their own country. The new directive should make it easier for people to compare loan offers from lenders in any EU country.

Today's vote followed a series of negotiations between the European Parliament and the Council of Ministers (representing the EU's 27 Member State governments), given that both Parliament and Council have to agree the new rules before they can come into effect. Among the main...

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