Activities of Phil PRENDERGAST related to 2011/0062(COD)
Plenary speeches (1)
Credit agreements relating to residential property (debate)
Amendments (8)
Amendment 102 #
Proposal for a directive
Title 1
Title 1
DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on credit agreements relating to residential property and credit agreements secured by mortgages
Amendment 107 #
Proposal for a directive
Recital 21
Recital 21
(21) In order to ensure the fullest possible transparency and to prevent abuses arising from possible conflicts of interest when consumers use the services of credit intermediaries, the latter should be subject to certain information disclosure obligations prior to the performance of their services. Such disclosures should include information on their identity and links with creditors, for instance whether they are considering products from a broad range of creditors or only from a more limited number of creditors. Those cCredit intermediaries that are not tied to one creditor or one group of creditors should furthershould disclose to consumers information on the existence of commissions payable by creditors for whom they are acting and the possible variations within those commissions. Member States should ensure a level playing field by requiring comparable information related to the distribution costs of creditors.
Amendment 111 #
Proposal for a directive
Recital 26
Recital 26
(26) Consumers should provide all available relevant information on their financial situation and personal circumstances to the creditor or intermediary in order to facilitate the creditworthiness assessment. The consumer should not, however, be penalised where he is not in a position to provide certain information or assessments of the future evolution of his financial situation. In situations where consumers knowingly provide incomplete or inaccurate information, Member States should be able to determine the appropriate penalties.
Amendment 135 #
Proposal for a directive
Article 3 – paragraph 1 – point e – introductory part
Article 3 – paragraph 1 – point e – introductory part
(e) ‘Credit intermediary’ means a natural or legal person who is not acting as a creditor and who, in the course of his trade, business or profession, for a feeremuneration, which may take a pecuniary form or any other agreed form of financial consideration:
Amendment 138 #
Proposal for a directive
Article 3 – paragraph 1 – point e – point ii
Article 3 – paragraph 1 – point e – point ii
ii) assists consumers by undertaking preparatory work in respect of credit agreements within the meaning of Article 2 other than as referred to in point (i);or
Amendment 160 #
Proposal for a directive
Article 6 – paragraph 1 – point a
Article 6 – paragraph 1 – point a
(a) The staff of creditors and credit intermediarieCredit intermediaries and the staff of creditors possess an appropriate level of knowledge and competence in relation to the offering or granting of credit agreements within the meaning of Article 2, or the activity of credit intermediation as defined in Article 3(e). Where the conclusion of a credit agreement includes an ancillary service related to it, in particular insurance or investment services, they shall also possess appropriate knowledge and competence in relation to that ancillary service in order to satisfy the requirements set out in Article 19 of Directive 2004/39/EC and Article 4 of Directive 2002/92/EC.
Amendment 205 #
Proposal for a directive
Article 9 a (new)
Article 9 a (new)
Article 9a Tying of ancillary services 1. Member States shall prohibit creditors or credit intermediaries from tying by making the offer of a credit agreement conditional upon the purchase of insurance or other financial products from a given provider specified by the creditor or credit intermediary except for the opening of a current account. 2. The change of provider of ancillary services which are linked to the credit agreement for residential property cannot have an implication on the credit rate of the credit agreement for residential property or on any other element of the credit agreement.
Amendment 254 #
Proposal for a directive
Article 17 – paragraph 2 – point a
Article 17 – paragraph 2 – point a
(a) consider a sufficiently large number of credit agreements and providers available on the market so as to enable the recommendation of the most suitable credit agreements for the consumer's needs, financial situation and personal circumstances;