Activities of Lucy ANDERSON related to 2017/2066(INI)
Plenary speeches (1)
Action plan on retail financial services (A8-0326/2017 - Olle Ludvigsson)
Amendments (10)
Amendment 19 #
Draft opinion
Paragraph 3
Paragraph 3
3. Underlines that consumers need to be able to choose the best rates and be aware of fees and other associated costs when making transactions or payments abroad, including when using dynamic currency conversion (DCC); asks the Commission to require that the value of a transaction be displayed both in local currency and in the consumer’s home currency at the time of the transaction, and that rates offered by different financial service providers be displayed in a transparent manner, and calls for a neutral reference rate provided by a non- business actorand asks the Commission to consider outlawing Dynamic Currency Conversion entirely, in order to protect the consumer, owing to its lack of transparency in calculating a final figure for currency conversion fees;
Amendment 23 #
Draft opinion
Paragraph 3
Paragraph 3
3. Underlines that consumers need to be able to choose the best rates and be aware of fees and other associated costs when making transactions or payments abroad, including when using dynamic currency conversion (DCC); asks the Commission to require that the value of a transaction be displayed both in local currency and in the consumer’s home currency at the time of the transaction, and that rates offered by different financial service providers be displayed similarly in a transparent manner, and calls for that includes all fees in both currencies; in addition, a neutral reference rate provided by a non-business actor; , such as InforEuro1a, should be displayed to allow consumers to easily identify overcharging using DDC; _________________ 1a http://ec.europa.eu/budget/contracts_gran ts/info_contracts/inforeuro/index_en.cfm - Commission website that publishes monthly conversion rates to be used for EU financed projects. This rate could provide an available and publicly accessible reference to market rates and discourage overcharging.
Amendment 39 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Underlines that comparison tools can only fulfil their trust-building role in the digital market, if they are seen as neutral and inclusive;asks the Commission to ensure that comparison websites identify in a transparent way their selection of providers which are compared and that their own financial interests and potential conflicts of interests regarding a neutral comparison, like a remuneration by specific providers, are fully disclosed;
Amendment 49 #
Draft opinion
Paragraph 6a (new)
Paragraph 6a (new)
6 a. Stresses the necessity of maintaining the provision of high street banks, which provide an essential public service and are of particularly benefit to SMEs, the elderly and vulnerable consumers, who are less likely to use e- banking and favour face-to-face interaction. Recognises that branch closures degrade financial infrastructure at a local level and can be extremely damaging to communities.
Amendment 51 #
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Welcomes the Commissions intention to make loans and other financial products available across borders;highlights the importance of this option when using instalment purchases offered directly on online shopping websites;
Amendment 53 #
Draft opinion
Paragraph 6b (new)
Paragraph 6b (new)
6 b. Acknowledges that the ability to assess realistically and precisely the financial risks involved in lending to consumers in another country is a prerequisite for cross border loans; calls on the Commission for comparable criteria and standards of creditworthiness assessments to be developed together with the financial industry, making locally created creditworthiness assessments comparable between Member States in order to enable and facilitate cross-border loans;
Amendment 54 #
Draft opinion
Paragraph 6b (new)
Paragraph 6b (new)
6 b. Urges the Commission to recognise the importance of controlling predatory lending and payday loans, which have resulted in the exploitation of vulnerable consumers and SMEs as a result of extortionate interest rates and which, if allowed to continue, will undermine consumer confidence in the single market and cross-border financial services;
Amendment 56 #
Draft opinion
Paragraph 6 c (new)
Paragraph 6 c (new)
6 c. Underlines the potential of big data in creating more accurate and personal creditworthiness assessments;underlines the importance of data protection and privacy when creating creditworthiness assessments in this way;underlines that a negative credit rating cannot be based solely on a lack of such data and that traditional ways of creating creditworthiness assessments need to be explored in cases where big data is insufficient;
Amendment 57 #
Draft opinion
Paragraph 6c (new)
Paragraph 6c (new)
6 c. Welcomes the Commission's efforts to enable the consumer to more easily change their financial services providers and products as well as to terminate financial contracts;
Amendment 58 #
Draft opinion
Paragraph 6d (new)
Paragraph 6d (new)
6 d. Urges the Commission to ensure that the European financial supervisors EBA, ESMA and EIOPA are appropriately resourced and empowered to perform their full range of regulatory and supervisory duties in the interests of consumer protection.