15 October 2009

EUROFINAS stresses the important role that consumer credit providers can play in the field of financial education

The publication consists of a sample of national trade association initiatives as well as various case studies on lenders’ projects. It offers a unique insight into the initiatives and projects, including a review of their objectives.

Eurofinas, has recently announced the launch of its E-publication on Financial Education. Given the current highly topical debate on responsible lending and borrowing, it was a natural step for Eurofinas, the trade association representing specialized consumer credit providers in Europe, to demonstrate the initiatives taken by the consumer credit industry to empower borrowers. Such initiatives are particularly important in the context of responsible borrowing where financial education is the key.

 

The E-publication offers a unique overview of financial education initiatives launched by the consumer credit industry across Europe.

The publication consists of a sample of national trade association initiatives as well as various case studies on lenders’ projects. It offers a unique insight into the initiatives and projects, including a review of their objectives, format and notable results. The final part of the E-publication is dedicated to financial education initiatives taken by Credit Bureaux.

 

Mindful that consumer credit providers have an important role to play in the field of financial education, Eurofinas’s Director General T. van de Werve is confident that the “various initiatives and case studies described in the publication will be emulated in the future and serve as a benchmark in years to come”, he added that “levels of consumer over-indebtedness may be reduced if consumers are given the opportunity to learn basic financial skills”.

 

Van de Werve also welcomed the introduction to the E-publication, provided by DG Sanco’s Director General Madelin, in which the European Commission encourages Eurofinas to continue its work on this issue. He also stressed that “this publication should be seen as a sign of industry support for the Commission’s aim to restore consumer confidence and promote best practices.”

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