In a first consideration of a common position on the new proposal of the on Consumer Credit Directive, rapporteur Kurt Lechner (D, EPP) outlined the issues he will be working on within the next few weeks.
Issues under discussion include:
- Article 2, the scope of the directive, he intends to amend the amount of credits to EUR 500 as a minimum, and EUR 50 000 as a maximum.
- Article 4 on Standard information to be included in advertising with regard to advertising
- Article 5 on pre-contractual information
- Article 8 on the obligation to assess the creditworthiness of the consumer
- Article 14 on the right of withdrawal
- Article 16 on early repayment
An IMCO Workshop is planned for 10 October.
Mr Lechner intends to present his draft report begining November, followed by a discussion the same month. Vote in IMCO Committee is planned for December, so the final vote in Plenary will take place in the first Pleanary meeting in January 2008.
However, the Portuguese Presidency is working hard to come to a final agreement already in December.
© Graham Bishop
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