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02 October 2007

IMCO meeting 2-3 October




Harmonisation of the Member States' legislation on credit for consumers

Rapporteur:  Kurt Lechner (EPP-ED)

• Consideration of common position

 

 

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

 

Mr Lechner intends to present his draft report beginning 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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