Activities of Ildikó GÁLL-PELCZ related to 2011/0062(COD)
Plenary speeches (1)
Credit agreements relating to residential property (debate)
Amendments (14)
Amendment 236 #
Proposal for a directive
Recital 28
Recital 28
(28) To prevent any distortion of competition among creditors, it should be ensured that all creditors (including credit institutions or non-credit institutions providing credit agreements relating to residential immovable property) have access to all public and private credit databases concerning consumers under non-discriminatory conditions. Such conditions should not therefore include a requirement to be established as a credit institution. Access conditions, such as the costs of access or requirements for any request for information to be based upon a request for credit would continue to apply, and creditors themselves would be liable to pay access costs. Where it is necessary to request information in connection with various loan products of the same creditor, the same creditor should charge the costs of such request only once. Member States are free to determine whether, within their jurisdictions, credit intermediaries may also have access to such databases.
Amendment 268 #
Proposal for a directive
Recital 39
Recital 39
(39) In order to ensure consistent harmonisation, and to take account of developments in the markets for credit relating to residential immovable property or in the evolution of credit products as well as economic developments, such as inflation, and in order to provide further explanations on how to address certain of the requirements contained in this Directive, the Commission should be empowered to adopt delegated acts in accordance with Article 290 of the Treaty on the Functioning of the European Union. In particular, the Commission should be empowered to adopt delegated acts should be delegated to the Commission, in particular to specify the details concerning the professional requirements applicable to creditors’ staff and credit intermediaries, the criteria used for assessing the creditworthiness of the consumer and in ensuring that credit products are not unsuitable for the consumer, and further harmonisation of key terms such as 'default' the registration criteria and data processing conditions to be applied to credit databases. It is particularly important that the Commission, during the preparatory work, should hold appropriate consultations, including at expert level. When preparing and drawing up delegated acts, the Commission should ensure a simultaneous, timely and appropriate transmission of relevant documents to the European Parliament and Council.
Amendment 280 #
Proposal for a directive
Article 1 – paragraph 1 a (new)
Article 1 – paragraph 1 a (new)
This Directive develops a more transparent, efficient and competitive internal market, through consistent, flexible and fair credit agreements relating to residential immovable property, while promoting sustainable lending and borrowing and hence providing a high degree of protection to consumers, within a harmonised EU framework, approximating the laws of the Member States.
Amendment 300 #
Proposal for a directive
Article 2 – paragraph 2 – point b
Article 2 – paragraph 2 – point b
(b) Credit agreements where the credit is granted by an employer to his employees, public officials or civil servants as a secondary activity where such a credit agreement is offered free of interest or at annual percentage rates of charge lower than those prevailing on the market and not offered to the public generally.
Amendment 317 #
Proposal for a directive
Article 3 – paragraph 1 – point e – point iii a (new)
Article 3 – paragraph 1 – point e – point iii a (new)
(iiia) Credit intermediaries may be classified into the following groups: Dependent intermediary: – priority intermediary: a financial institution or several financial institutions not in competition with each other in relation to financial services perform the financial service of intermediary as a priority activity; – dependent agent: a financial institution or several financial institutions not in competition with each other in relation to financial services perform the financial service of intermediary as an agency activity; – payment intermediary: performs the activities of a payment agent as a payment intermediary; Independent intermediary: – multiple priority intermediary: several financial institutions in competition with each other in relation to financial services perform the financial service of intermediary as a priority activity; – multiple agent: several financial institutions in competition with each other in relation to financial services perform the financial service of intermediary as an agency activity; – broker: performs the activity of a payment broker as a payment intermediary.
Amendment 318 #
Proposal for a directive
Article 3 – paragraph 1 – point e a (new)
Article 3 – paragraph 1 – point e a (new)
(ea) ‘tipster’ means someone who undertakes partial intermediary duties but does not undertake them for the consumer in a way which makes the complex context of the service clear to the consumer.
Amendment 362 #
Proposal for a directive
Article 5 – paragraph 2 – point a(new)
Article 5 – paragraph 2 – point a(new)
(a) In accordance with joint risk tolerance, costs arising from the credit shall be accounted for not in foreign currency but in the currency of the relevant country, and above a certain level the creditor and the borrower shall be jointly liable for the risks.
Amendment 433 #
Proposal for a directive
Article 9 – paragraph 1 – subparagraph 2 – point f
Article 9 – paragraph 1 – subparagraph 2 – point f
(f) indication of the currency or currencies in which credits are available, including an explanation of the implications for the consumer where the credit is denominated in a foreign currency and/or the associated potential risks (i.e. the effects of exchange rate fluctuations);
Amendment 444 #
Proposal for a directive
Article 9 – paragraph 1 – subparagraph 2 – point i
Article 9 – paragraph 1 – subparagraph 2 – point i
(i) whether there is a possibility of early repayment and, where applicable, a description of the conditions attached to early total repayment; and early partial repayment.
Amendment 452 #
Proposal for a directive
Article 9 – paragraph 1 – subparagraph 2 – point k a (new)
Article 9 – paragraph 1 – subparagraph 2 – point k a (new)
(ka) relevant clear information concerning the factors (such as inter- bank lending rates, CPI, central bank base rates, etc.) that may be taken into account in amending the rate of charge (interest and handling charge); these should be factors which can be followed in numerical form at any time, and are not based on subjective credit valuations.
Amendment 495 #
Proposal for a directive
Article 10 – paragraph 1 – point c
Article 10 – paragraph 1 – point c
(c) where he is acting as a tied credit intermediary he shall identify himself as such and, at the consumer’s request, shall in any case be required to provide the names of the creditor(s) for which he is acting;
Amendment 544 #
Proposal for a directive
Article 13 – paragraph 1
Article 13 – paragraph 1
1. Member States shall ensure that the creditor informs the consumer of any change in the borrowing rate, on paper or another durable medium, as a rule at least 30 days before the change enters into force. The information shall state the amount of the repayments to be made after the entry into force of the new borrowing rate and, in cases where the number or frequency of the payments changes, particulars thereof.
Amendment 551 #
Proposal for a directive
Article 13 – paragraph 2 a (new)
Article 13 – paragraph 2 a (new)
2 a. In accordance with the principle of symmetry, where the creditor unilaterally increases the amount of the interest, fees or costs payable by the borrower by reference to an adverse change in conditions or circumstances, he shall reduce them by the same amount if circumstances change favourably.
Amendment 676 #
Proposal for a directive
Article 18 – paragraph 2 – subparagraph 1
Article 18 – paragraph 2 – subparagraph 1
Member States may provide that the exercise of the right referred to in paragraph 1 is subject to certain conditions. Such conditions may include time limitations on the exercise of the right, different treatment depending on the type of the borrowing rate, or restrictions with regard to the circumstances under which the right may be exercised. Member States may also provide that the creditor should be entitled to fair and objectively justified compensation for potential costs directly linked to early repayment of the credit. A maximum fee shall be set both for full final repayment and for early repayment. In the event of early repayment, the borrower may make an early repayment once a year (e.g. on the anniversary of the credit agreement) without incurring any fee, in other words no fee for amendment of the contract shall be charged. In any event, if the early repayment falls within a period for which the borrowing rate is fixed, exercise of the right may be made subject to the existence of a special interest on the part of the consumer.