Activities of Barbara KAPPEL related to 2017/2066(INI)
Shadow reports (1)
REPORT on the Action Plan on Retail Financial Services PDF (425 KB) DOC (73 KB)
Amendments (16)
Amendment 5 #
Motion for a resolution
Citation 20 a (new)
Citation 20 a (new)
– having regard to Article 4 and TFEU, stating that consumer protection is a shared competence between the EU and Member States, and that the EU can only issue rules in the area of consumer protection, provided that no more effective measures can be taken nationally, regionally or locally,
Amendment 14 #
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas retail business is predominantly local business;
Amendment 73 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Welcomes the Commission’'s commitment to propose an amendment to Regulation (EC) No 924/2009 on cross- border payments, involving payments in non-euro currencies, with the aim of ensuringtackling the fact that the fees for allnon-euro cross-border and non-euro national payments transactions in the EU are not identical; considers that the underlying systems for cross-border euro and non- euro transactions differ significantly; therefore, a one-size-fits-all approach would not reflect the diverse cost structures involved; emphasises the need to promote technological development in order to reduce costs for cross-border non-euro payment transactions;
Amendment 77 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. EmphasiStresses that enforcing the current legislation is central to tackling ‘dynamic currency conversDirect currency conversion can be a value for consumers when it is offered as a selectable option’; reaffirms that this will necessitate an obligation for merchants to clearly highlight and present the most advantageous option for consumers, including wemphasizes that the choice of options addressed to the consumer in the Commission's Action Plan is only possible with far-reaching technical and organizational changes and thus at an increased cost; calls on the Commission to study the cost of requiring payment service providers of then these consumers are making ATM withdrawals involving currency conversraders and the consumer to provide this real-time information;
Amendment 81 #
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Reaffirms that in accordance with the requirements of the Payment Services Directive the party offering the currency conversion service shall disclose to the payer all charges as well as the exchange rate to be used for converting the payment transaction in a clear way in order to ensure transparency for consumers.
Amendment 82 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Approves of the Commission’'s ambition to incorporate the achievements of the Payment Accounts Directive to make it easier to change financial services providers and products; calls on the Commission to present legislativexplore initiatives specifically targeted at the financial sector to end unjustified geo- blocking in order to facilitate switching by customers to more advantageous retail financial services in other Member States; highlights the Report of the Commission on the application of Regulation EU n°260/2012 (the SEPA- Regulation) which concludes that, overall, the SEPA Regulation is correctly applied across the EU but, that very few issues, such as IBAN discrimination, persist; calls on the Commission to address with priority IBAN discrimination (i.e. imposing on consumers to pay from an account located in a specific country) as this constitutes a mayor barrier for the cross-border demand of products and services.
Amendment 96 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Urges the Commission to set up promptly a well-organised and easy-to-use EU comparison portal covering most or all parts of the European retail financial markets in its entirety, bearing in mind that only similar products/services can be compared;
Amendment 105 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. UrgesCalls on the Commission to put forward legislative proposals to amend the Insurance Distribution Directive to include car rental companies selling insurance add- ons with a view to ensuring transparent pricing covering all car rental companies across the Member States;
Amendment 114 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Asks the Commission to assess carefully whether national rules and practices are motivated by consumer protection concerns; underlines that the dismantling of national barriers should not be to the detriment of consumer protectione importance of a level playing field for consumers and providers;
Amendment 123 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Calls on the Commission to choose a holistic approach by examining national rules and practices on financial efficiency and digital fitness;
Amendment 133 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls on the Commission to amendssess the application of the Mortgage Credit Directive and the Consumer Credit Directive to introduce compulsory,in order to see whether the introduction of harmonised, cross-border creditworthiness assessment standards and principles are a prerequisite to better mitigate the risk of increasing over- indebtedness when facilitating pan- European online credit; urges the Commission to give priority to submit a comprehensive report assessing the wider challenges of private over- indebtedness directly linked to credit activity according to Article 45 of the Mortgage Credit Directive.
Amendment 136 #
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Stresses that local savings banks are best suited to assess risk to its consumers;
Amendment 144 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls on the Commission to present an all-inclusive FinTech Action Plan in the framework of its capital markets union (CMU) and digital single market (DSM) strategies, contributing to an effective and well-functioning integrated technology- driven single market of financial services benefiting all European end-users, and creating a level playing field between different distribution channels and techniques, so that they can be protected equally, regardless of the location of the purchase;
Amendment 149 #
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Notes that many insurance and financial intermediaries are SMEs; calls on the Commission to take this into account when drafting its FinTech Action Plan;
Amendment 153 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Reiterates the need for the Commission to identify and remove regulatory barriers to the use of pan- European electronic signature systems for subscribing to financial services, thereby facilitating EU-wide cross-border digital onboarding, without affecting the level of security of existing systems or their ability to comply with the requirements of the Fourth Anti-Money Laundering Directive; stresses the need to regularly adapt the EU legal framework in order to enable a secure remote or electronic identification by those means of identification as set out in Regulation (EU) No 910/2014 of the European Parliament and of the Council and any other remote identification means based on new technologies presenting an adequate level of security equivalent to the substantial assurance level of e-IDAS;
Amendment 156 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Stresses the need to adaptmonitor the existing EU legal framework for the digital world to counteract consumer protection risks connected with distance online selling, therebyalso in order to creatinge new business opportunities forin the European market, including start-ups and FinTechs;