McCreevy: Consumer protection in financial services
01 July 2009
“Improving consumer confidence is a key objective to response to the current financial crisis”, McCreevy stated underlining that the Commission is renewing its focus on the citizen.
"The Commission is renewing its focus on the citizen", Commissioner McCreevy said underlining that “consumer protection is a focus for most of our work”.
"With regards to the mortgage credit market, the focus shifted from opening up credit markets to lenders throughout the EU, to actually placing more of an emphasis on responsible lending and borrowing", The Commissioner said.
"By updating Investor Compensation Scheme Directive the Commission hopes to harmonise, as far as practicable, the Investor Compensation” Mc Creevy stated.
"With regard to Deposit Guarantee Schemes, the Commission will issue its proposals by the end of 2009", Mc Creevy said.
"In the Insurance sector the Commission will adopt a White Paper which will set out the solution for the insurance guarantee schemes at EU level”, he announced.
“The reforms we are working on are wide ranging but we need your insights if we are to ensure that we come forward with the best solutions for EU Consumers”, he concluded.
© European Commission
