EAPB: Improvements in the Consumer Credit Directive are not sufficient

10 October 2005

Reacting on the revised proposal of the Consumer Credit Directive the European Association of Public Banks (EAPB) regrets that the Commission has not or has insufficiently taken more fundamental demands of the banking industry and of the European Parliament into consideration.

EAPB criticises that overdrafts on current accounts are not fully exempted from the scope of the directive and also the extended list of pre-contractual and contractual information requirements. “The proposed information regime is not really as a “light” one as the Commission pretends. It does not fit this kind of credit and will make this simple and successful product more expensive and bureaucratic”, Henning Schoppmann, secretary-general of the EAPB said.

Press release

© EAPB