The Council expressed a generally favourable view on the proposal. It recognised that, following the development of new credit instruments and activities, a reform
is important in terms of an effective consumer protection and functioning of
the internal market.
In order to establish guidance for future work on this file, the Member
States clarified their positions on key issues such as:
the objective of a total harmonisation, as proposed by the Commission, in
relation to provisions allowing a certain degree of flexibility for Member
States;
the forms of credit falling within the scope of the Directive, notably as
refers to mortgage credit;
conditions of coverage of creditors and credit intermediaries, such as
registration requirements and possible controls.
Council meeting COMPETITIVENESS
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