15 Amendments of Marco ZANNI related to 2018/0063(COD)
Amendment 259 #
Proposal for a directive
Article 1 – paragraph 1 – introductory part
Article 1 – paragraph 1 – introductory part
This Directive relates only to non- performing credit agreements. Creditors shall not be allowed to transfer to third parties performing credit agreements concluded with consumers. This Directive lays down a common framework and requirements for:
Amendment 262 #
Proposal for a directive
Article 1 – paragraph 1 – point c
Article 1 – paragraph 1 – point c
Amendment 351 #
Proposal for a directive
Article 11 – paragraph 1
Article 11 – paragraph 1
1. Member States shall ensure that a credit servicer having obtained an authorisation in accordance with Article 5 in a home Member State has the right to provide in the Union those services that are covered by that authorisation, without prejudice to national laws for consumer protection and borrower rights.
Amendment 353 #
Proposal for a directive
Article 11 – paragraph 1 a (new)
Article 11 – paragraph 1 a (new)
1 a. As concerns credit agreements concluded between creditors and consumers, a credit servicer shall be required to obtain an authorisation and establish a branch or a subsidiary in the Member State where it intends to operate.
Amendment 359 #
Proposal for a directive
Article 12 – paragraph 1 a (new)
Article 12 – paragraph 1 a (new)
1 a. Credit servicers shall not be allowed to provide cross-border services in respect of credit agreements concluded between creditors and consumers. In that case, credit servicers shall be authorised and supervised by the competent authorities of the Member State where they effectively operate.
Amendment 362 #
Proposal for a directive
Article 12 – paragraph 4
Article 12 – paragraph 4
4. Member States shall ensure that where a credit servicer which is domiciled or established in a home Member State, has set up a branch or appointed an agent subsidiary in a host Member State, the competent authorities of the home Member State and the competent authorities of the host Member State shall cooperate closely in the performance of their functions and duties provided for in this Directive, in particular when carrying out checks, investigations and on-site inspections in that branch or in respect of that agent.
Amendment 386 #
Proposal for a directive
Article 14 – paragraph 1
Article 14 – paragraph 1
1. EBA shall develop draft implementing technical standardGuidelines that specify the formats tohat may be used by creditors who are credit institutions for the provision of information as set out in Article 13(1), in order to provide detailed information on their credit exposures in the banking book to credit purchasers for the screening, financial due diligence and valuation of the credit agreement or creditor’s rights. EBA shall specify in the Guidelines the required minimum data fields for non- performing credit agreements or creditor’s rights in order to meet the information requirements as set out in Article 13(1).
Amendment 392 #
Proposal for a directive
Article 14 – paragraph 2
Article 14 – paragraph 2
Amendment 395 #
Proposal for a directive
Article 14 – paragraph 3
Article 14 – paragraph 3
Amendment 425 #
Proposal for a directive
Title 3 a (new)
Title 3 a (new)
Title IV - Rights and protection of distressed consumer borrowers
Amendment 426 #
Proposal for a directive
Article 19 a (new)
Article 19 a (new)
Article 19 a Forbearance measures and foreclosure 1. Creditors shall make every effort to avoid transferring consumer non- performing loans to third parties. Notably, Member States shall ensure that creditors exercise reasonable forbearance towards the distressed borrowers, in accordance with Article 28 of Directive 2014/17/EU and the EBA Guidelines on arrears and foreclosure EBA/GL/2015/12. 2. Forbearance measures may include the following concessions to the consumer: a) a total or partial refinancing of a credit agreement; b) a modification of the previous terms and conditions of a credit agreement. 3. Definition of non-performing loans adopted by the Commission Implementing Regulation (EU) 2015/227 shall be without prejudice to the creditors’ forbearance obligations. 4. In case of foreclosure, when the credit is secured by the consumer’s primary residence, return or transfer to the creditor or a third-party of the security or proceeds from the sale of the security shall be sufficient to repay the credit. Article 28(4) of Directive 2014/17/EU shall be amended accordingly. (This article goes under the new title IV Rights and protection of distressed consumer borrowers)
Amendment 427 #
Proposal for a directive
Article 19 b (new)
Article 19 b (new)
Article 19 b Debt buy-back 1. When a credit institution intends to transfer a credit agreement to a credit purchaser at a specified price, before the transfer the credit institution shall allow the debtors concerned who are consumers, and prove that they are unable to meet their contractual obligations, to buy back their debt at the same price or with a small mark-up, specified by the relevant competent authorities. For that purpose, credit institutions shall be required to disclose to the relevant competent authorities the necessary details of expected deals with credit purchasers. 2. Member States shall ensure that the buy-back option can be exercised in instalments. (This article goes under the new title IV Rights and protection of distressed consumer borrowers)
Amendment 428 #
Proposal for a directive
Article 19 c (new)
Article 19 c (new)
Article 19 c Rules of conduct for credit servicers and credit purchasers ‘1. Credit servicers and credit purchasers shall act in good faith, treat consumers fairly and respect their privacy. The following practices shall be forbidden: a) Provision of misleading information to consumers; b) Harassment of consumers; c) Charging fees and penalties to consumers that exceed the costs directly related to the management of the debt. Members States shall fix the maximum amount of these fees and penalties. Paragraph 1 shall also apply to outsourcing service providers stipulated in Article 10 of this directive. 2. Member States shall be able to maintain the existing national measures aimed at protecting distressed borrowers, as well to adopt stricter measures, such as personal insolvency measures, restriction of the activity of credit servicers and credit purchasers. (This article goes under the new title IV Rights and protection of distressed consumer borrowers)
Amendment 429 #
Proposal for a directive
Article 19 d (new)
Article 19 d (new)
Article 19 d Right to legal representation 1. In any court hearing involving a distressed borrower there shall be consideration of the equality of representation status to ensure a full and fair hearing and full and complete understanding of all of the parameters and legal contentions being addressed. 2. This requires that there be an equivalent of legal representation provided and available to all distressed borrowers and, where necessary, this service shall be provided at the cost of the Member State through free legal aid or its equivalent. (This article goes under the new title IV Rights and protection of distressed consumer borrowers)
Amendment 461 #
Proposal for a directive
Title 5
Title 5