FINANCIAL SERVICES : TOWARDS A MINIMUM HARMONISATION OF CONSUMER CREDIT.
Europe Environment, January, 2008
The European Parliament's Committee on Internal Market and Consumer Protection approved, on 10 December, a report by Kurt Lechner (EPP-ED, Germany) relating to consumer credit agreements. The proposal for a legislative resolution, adopted by 32 votes in favour and five abstentions, will be put to the vote at the Parliament's plenary assembly during the next session, in January 2008, at second reading.
This proposal by the European Commission, made public in October 2005, defines a new legal framework which will replace Directive 87/102/EEC. "The development of this legal area has undergone extremely divergent changes in member states, hence the existence of barriers within the internal market," noted Lechner in his preamble. "The complete standardisation of...
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