Activities of Rasmus ANDRESEN related to 2021/0171(COD)
Shadow opinions (1)
OPINION on the proposal for a directive of the European Parliament and of the Council on consumer credits
Amendments (50)
Amendment 147 #
Proposal for a directive
Article 2 – paragraph 4
Article 2 – paragraph 4
4. In the case of credit agreements in the form of overrunning, only Articles 1, 2 and 3, Article 25, Articles 35 and 36, Article 39 and Articles 41 to 50 shall apply.
Amendment 149 #
Proposal for a directive
Article 2 – paragraph 4 a (new)
Article 2 – paragraph 4 a (new)
4a. Notwithstanding paragraph 2, Member states may determine this Directive applies to credit agreements involving a total amount of credit of more than EUR 100 000.
Amendment 160 #
Proposal for a directive
Article 3 – paragraph 1 – point 5
Article 3 – paragraph 1 – point 5
(5) ‘total cost of the credit to the consumer’ means all the costs, including interest, commissions, taxes and any other kind of fees which the consumer is required to pay in connection with the credit agreement or crowdfunding credit services and which are known to the creditor, in the case of credit agreements, or to the crowdfunding credit services provider, in the case of crowdfunding credit services, except for notarial costs; costs in respect of ancillary services relating to the credit agreement or crowdfunding credit services are also included in the total cost of the credit to the consumer where, in addition, the conclusion of a contract regarding such ancillary services is compulsory in order to obtain the credit or to obtain it on the terms and conditions marketed;
Amendment 164 #
Proposal for a directive
Article 3 – paragraph 1 – point 25
Article 3 – paragraph 1 – point 25
(25) ‘debt advisory services’ means personalised assistance of a technical, legal or psychological nature provided by independent professional operators which are not creditors, credit intermediaries, providers of crowdfunding credit services or credit servicers, in favour of consumers who experience or might experience difficulties in meeting their financial commitments;
Amendment 174 #
Proposal for a directive
Article 8 – paragraph 1 – subparagraph 1
Article 8 – paragraph 1 – subparagraph 1
1. Member States shall require that advertising concerning credit agreements or crowdfunding credit services which indicates an interest rate or any figures relating to the cost of the credit to the consumer include standard information in accordance with this Article.
Amendment 177 #
Proposal for a directive
Article 8 – paragraph 1 – subparagraph 2
Article 8 – paragraph 1 – subparagraph 2
Amendment 181 #
Proposal for a directive
Article 8 – paragraph 2 – subparagraph 1 – point f a (new)
Article 8 – paragraph 2 – subparagraph 1 – point f a (new)
(fa) information regarding possible consequences of missed payments, including any interest or charges applicable for late payments;
Amendment 183 #
Proposal for a directive
Article 8 – paragraph 2 – subparagraph 1 – point f b (new)
Article 8 – paragraph 2 – subparagraph 1 – point f b (new)
(fb) a prominent, clearly visible warning to make consumers aware that borrowing costs money.
Amendment 185 #
Proposal for a directive
Article 8 – paragraph 2 – subparagraph 3 (new)
Article 8 – paragraph 2 – subparagraph 3 (new)
The European Banking Authority (EBA) shall develop draft regulatory technical standards that specify the format and presentation of the information contained in points (c), (f) and (h). Power is delegated to the Commission to adopt the regulatory technical standards referred to in the third subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010
Amendment 190 #
Proposal for a directive
Article 8 – paragraph 3 a (new)
Article 8 – paragraph 3 a (new)
3a. Member States shall prohibit advertising for consumer credit products which: (a) incites over-indebted consumers to seek credit; (b) highlights the ease or speed with which credit can be obtained; (c) states that a promotion is conditional upon taking up credit; (d) specifies that outstanding credit contracts have little or no influence on the assessment of a credit application; (e) suggests that success, social achievement or specific skills can be acquired thanks to credit agreements; (f) offer “grace periods” for the repayment of credit instalments of more than three months
Amendment 205 #
Proposal for a directive
Article 10 – paragraph 3 – subparagraph 1 – point s
Article 10 – paragraph 3 – subparagraph 1 – point s
(s) the consumer's rightreditor’s obligation, as set out in paragraph 8, to be supplied, on request andprovide the consumer free of charge, with a copy of the draft credit agreement, or of the draft agreement for the provision of crowdfunding credit services, provided that the creditor at the time of the request is willing to proceed to the conclusion of the credit agreement or of the agreement for the provision of crowdfunding credit services with the consumer;
Amendment 217 #
Proposal for a directive
Article 10 – paragraph 4 – point f
Article 10 – paragraph 4 – point f
(f) explanation on the consequences, including the costs in the case of missing or late payments;
Amendment 218 #
Proposal for a directive
Article 10 – paragraph 4 – point f a (new)
Article 10 – paragraph 4 – point f a (new)
(fa) information about the right of withdrawal.
Amendment 222 #
Proposal for a directive
Article 10 – paragraph 5 – subparagraph 2
Article 10 – paragraph 5 – subparagraph 2
Any additional information which the creditor may provide to the consumer shall be given in a separate document which may be annexed to the Standard European Consumer Credit Information form or the Standard European Consumer Credit Overview form. The European Banking Authority (EBA) shall develop draft regulatory technical standards to specify the format and presentation of the Standard European Consumer Credit Information form and the Standard Consumer Credit Overview form. Power is delegated to the Commission to adopt by XX the regulatory technical standards referred to in the third subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010
Amendment 223 #
Proposal for a directive
Article 10 – paragraph 6
Article 10 – paragraph 6
Amendment 226 #
Proposal for a directive
Article 10 – paragraph 7
Article 10 – paragraph 7
7. If theA credit agreement hascannot been concluded at the consumer's request usingusing exclusively a means of distance communication which does not enable the information to be provided in accordance with this article, the creditor and, where applicable, the credit intermediary or the provider of crowdfunding credit services shall provide the consumer with the Standard European Consumer Credit Information form and the Standard European Consumer Credit Overview form immediately after the conclusion of the credit agreement or of the agreement for the provision of crowdfunding credit servicesArticle.
Amendment 229 #
Proposal for a directive
Article 10 – paragraph 8
Article 10 – paragraph 8
8. Upon request from the consumer, tThe creditor and, where applicable, the credit intermediary or the provider of crowdfunding credit services shall, in addition to the Standard European Consumer Credit Information form and the Standard European Consumer Credit Overview form, provide the consumer free of charge with a copy of the draft credit agreement, or of the draft agreement for the provision of crowdfunding credit services, provided that the creditor at the time of the request is willing to proceed to the conclusion of the credit agreement or of the agreement for the provision of crowdfunding credit services with the consumer. The provision of the credit offer shall oblige the creditor to maintain its terms and conditions for a minimum of 14 days from the date of receipt by the consumer.
Amendment 232 #
Proposal for a directive
Article 10 – paragraph 10
Article 10 – paragraph 10
10. This Article shall not applyies to suppliers of goods or services acting as credit intermediaries in an ancillary capacity. This is without prejudice to the creditor, or where applicable, credit intermediary or provider of crowdfunding credit services’ obligation to ensure that the consumer receives the pre-contractual information referred to in this Article.
Amendment 245 #
Proposal for a directive
Article 13 – paragraph 1
Article 13 – paragraph 1
Member States shall require that creditors, credit intermediaries and providers of crowdfunding credit services explicitly inform consumers when they are presented with a personalised offer that is based on profiling or other types of automated processing of personal data. Such personalised offer shall not be based on personal data other than financially related data as defined in Article 18 paragraph 2.
Amendment 250 #
Proposal for a directive
Article 14 – paragraph 2
Article 14 – paragraph 2
Amendment 251 #
Proposal for a directive
Article 14 – paragraph 3
Article 14 – paragraph 3
Amendment 258 #
Proposal for a directive
Article 14 – paragraph 4
Article 14 – paragraph 4
4. Member States may allow creditors or providers of crowdfunding credit services to require the consumer to hold a relevant insurance policy related to the credit agreement or crowdfunding credit services, taking into account proportionality considerations. In such cases, Member States shall ensure that the creditor or the provider of crowdfunding credit services is required to accept the insurance policy from a supplier different to his or her preferred supplier where such insurance policy has a level of guarantee equivalent to the one the creditor or the provider of crowdfunding credit services has proposed, without modifying the condition of the credit offering to the consumer. In addition, creditors or providers of crowdfunding credit services should not be permitted to offer a relevant insurance policy related to the credit agreement of crowdfunding credit services before a 7-day cooling off period in order to ensure that the consumer is able to compare offers.
Amendment 262 #
Proposal for a directive
Article 16 – paragraph 4 – subparagraph 1
Article 16 – paragraph 4 – subparagraph 1
4. Member States mayshall prohibit the use of the terms ‘advice’ and ‘advisor’ or similar terms when the advisory services are being marketed and provided to consumers by creditors or, where applicable, credit intermediaries or providers of crowdfunding credit services.
Amendment 263 #
Proposal for a directive
Article 16 – paragraph 4 – subparagraph 2 – introductory part
Article 16 – paragraph 4 – subparagraph 2 – introductory part
Amendment 267 #
Proposal for a directive
Article 16 – paragraph 4 – subparagraph 2 – point a
Article 16 – paragraph 4 – subparagraph 2 – point a
(a) creditors and, where applicable, credit intermediaries or providers of crowdfunding credit services shall consider a sufficiently large number of credit agreements or crowdfunding credit services available on the market;
Amendment 271 #
Proposal for a directive
Article 16 – paragraph 4 – subparagraph 4
Article 16 – paragraph 4 – subparagraph 4
Member States mayshall impose more stringent requirements for the use of the terms ‘independent advice’ or ‘independent advisor’ by creditors and, where applicable, credit intermediaries or providers of crowdfunding credit servic intermediaries.
Amendment 281 #
Proposal for a directive
Article 17 – paragraph 1
Article 17 – paragraph 1
Member States shall prohibit any offer or sale of credit to consumers, without their prior request and explicit agreement.
Amendment 292 #
Proposal for a directive
Article 18 – paragraph 1- subparagraph 1 a (new)
Article 18 – paragraph 1- subparagraph 1 a (new)
The creditor shall make reasonable allowances for committed and other non- discretionary expenditures such as the consumers’ actual obligations, including appropriate substantiation and consideration of the living expenses of the consumer and his/her household. The assessment shall ensure that the agreed credit does not put the consumer in financial difficulty and allows the consumer to maintain a minimum standard of living. The creditor shall make prudent allowances for potential negative scenarios in the future, including for example, a reduced income; or where applicable, an increase in the borrowing rate or negative change in the exchange rate, or deferred payments of principal or interest. Member States shall ensure that credit intermediaries accurately transmit to the creditor information obtained from the consumer so that the creditworthiness assessment can be carried out.
Amendment 294 #
Proposal for a directive
Article 18 – paragraph 2 – subparagraph 1
Article 18 – paragraph 2 – subparagraph 1
2. The assessment of creditworthiness referred to in Article 8 shall be carried out exclusively on the basis of relevant and accurate information on the consumer’s income and expenses and other financial and economic circumstances which is necessary and proportionate such as evidence of income or other sources of repayment, information on financial assets and liabilities, or information on other financial commitments. The information shall be obtained from relevant internal or external sources, including the consumer and, where necessary, on the basis of a consultation of a database referred to in Article 19. the following information: – evidence of identification; – evidence of residence; – where applicable, information on the purpose of the loan; – where applicable, evidence of eligibility for the purposes of the loan; – evidence of employment, including the type, sector, status (e.g. full-time, part- time, contractor, self-employed) and duration; – evidence of income or other sources of repayment (including annual bonus, commission, overtime, where applicable) covering a reasonable period, including payslips, current bank account statements, and audited or professionally verified accounts (for self-employed persons); – information on financial assets and liabilities, e.g. savings account statements and loan statements indicating outstanding loan balances; – information on other financial commitments, such as child maintenance, education fees and alimonies, if relevant; – information on household composition and dependants; – evidence of tax status; – where applicable, evidence of life insurance for the named borrowers; – where applicable, data from credit registers or credit information bureaux or other relevant databases, covering the information on financial liabilities and arrears in payment; – information on the collateral, if any; – evidence of ownership of the collateral; – evidence of the value of the collateral; – evidence of insurance of the collateral; – information on guarantees, other credit risk mitigating factors and guarantors, if any; – rental agreement or evidence of potential rental income for buy-to-let loans, if any; – permissions and cost estimates, if applicable, for real estate building and improvement loans.
Amendment 301 #
Proposal for a directive
Article 18 – paragraph 2 – subparagraph 2
Article 18 – paragraph 2 – subparagraph 2
The information obtained in accordance with this paragraph shall be appropriately verifitaken into account shall be necessary, sufficient and proportionate to assess the re-payment capacity of the consumer, in line with the data minimisation principle of Regulation (EU) 2016/679 (GDPR). In addition, the information taken into account shall be relevant, up-to-date, complete and accurate. Data other than the categories of data listed above, and in line with Article 9(1) of Regulation (EU) 2016/679 (GDPR), data on racial or ethnic origin, political opinions, religious or philosophical beliefs, or trade union membership, data concerning health or data concerning a natural person's sex life or sexual orientation shall not be processed nor used to perform creditworthiness assessments. The information shall be obtained from relevant internal or external sources, including the consumer and, where necessary, but not exclusively, on the basis of a consultation of a database referred to in Article 19 subject to the consumer’s prior information by the creditor and consent in line with Regulation (EU) 2016/679 (GDPR), and the consumer’s payment account, subject to the consumer’s consent as defined in Directive (EU) 2015/2366 on payment services in the internal market (PSD 2). The information obtained cannot only be based on consumer declarations and should be accompanied by supporting evidence. Appropriate checks are required, where necessary through reference to independently verifiable documentation.
Amendment 315 #
Proposal for a directive
Article 18 – paragraph 4 – subparagraph 2
Article 18 – paragraph 4 – subparagraph 2
Notwithstanding the first subparagraphs, where the result of the creditworthiness assessment indicates that the obligations resulting from the credit agreement or the agreement for the provision of crowdfunding credit services are not likely to be met in the manner required under that agreement, the creditor or the provider of crowdfunding credit services may exceptionally make credit available to the consumer in specific and well justified circumstances. in the following circumstances: – loans to fund exceptional healthcare expenses, or – students loans or – loans for consumers with disabilities. The relevant circumstance should be duly documented by the creditor or the provider of crowdfunding credit services, and include an assessment of the consumer’s repayment capacity.
Amendment 335 #
Proposal for a directive
Article 19 – paragraph 3
Article 19 – paragraph 3
3. The databases referred to in paragraph 1 shall hold at least information on consumers’ arrears in payment. repayment behaviour on their existing financial agreements, including arrears, where permitted under national legal frameworks and Regulation (EU) 2016/679. Database providers shall not collect information other than that authorised under Article 18(2).
Amendment 341 #
Proposal for a directive
Article 21 – paragraph 1 – subparagraph 1 – point v a (new)
Article 21 – paragraph 1 – subparagraph 1 – point v a (new)
(va) the relevant contact details of debt- advisory services and a recommendation for the consumer to contact such services in case of re-payment difficulties.
Amendment 374 #
Proposal for a directive
Article 29 – paragraph 4 – point b
Article 29 – paragraph 4 – point b
Amendment 388 #
Proposal for a directive
Article 31 – paragraph 1 – introductory part
Article 31 – paragraph 1 – introductory part
1. Member States shall introduce caps on one or more of the following:
Amendment 393 #
Proposal for a directive
Article 31 – paragraph 1 – point a
Article 31 – paragraph 1 – point a
Amendment 397 #
Proposal for a directive
Article 31 – paragraph 1 – point c
Article 31 – paragraph 1 – point c
Amendment 402 #
Proposal for a directive
Article 31 – paragraph 2 a (new)
Article 31 – paragraph 2 a (new)
2a. The EBA shall develop draft regulatory technical standards on the methodology to calculate the APRC caps connected to the main categories of credit products falling under scope of this Directive in each Member State taking into account certain national specificities including current APRC or interest rate caps. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.
Amendment 404 #
Proposal for a directive
Article 31 a (new)
Article 31 a (new)
Amendment 415 #
Proposal for a directive
Article 32 – paragraph 5 a (new)
Article 32 – paragraph 5 a (new)
5a. Member states shall ensure that creditors or credit servicers send the consumer before any debt collection a mandatory notification that provides without any ambivalence evidence of the debt, relied on a credit agreement. The debt notification must be exclusively made by a letter to the borrower in a white envelope without any specific writing and with acknowledgment of receipt. The notification shall not exceed 3 pages and include in clear and understandable for the general public language at least the following: (a) the evidence of the debt, relied on a credit contract (b) the identification of the creditor including its contact details; (c) where relevant, the identification of the credit servicer and its rights d. the legal base of the debts, the detailed amounts requested, and their source (capital, interest, penalties, procedural costs) (d) a key selection of borrowers’ rights description, including necessarily the protection against harassment and misleading behaviours; (e) a contact reference where to receive information and advice for borrowers under payment difficulties;
Amendment 416 #
Proposal for a directive
Article 32 – paragraph 5 b (new)
Article 32 – paragraph 5 b (new)
5b. Member states shall ensure that no behaviour or practice causes damage to consumers’ privacy.
Amendment 417 #
Proposal for a directive
Article 32 – paragraph 5 c (new)
Article 32 – paragraph 5 c (new)
5c. Member states shall ensure that creditors or credit servicers refrain from: (a) omitting to deduct previous payments from the requested amount; (b) sending stigmatising, intimidating or misleading communications, including improper legal threats or information that may be misleading for the borrower; (c) contacting other persons than the borrower including borrowers’ relatives.
Amendment 418 #
Proposal for a directive
Article 32 – paragraph 5 d (new)
Article 32 – paragraph 5 d (new)
5d. The European Banking Authority shall develop regulatory technical standards to specify the standards under paragraph 5c. EBA shall submit those draft regulatory technical standards to the Commission by [12 months after the date of entry into force]. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010 5. EBA shall develop draft implementing technical standards that specify the mandatory format of the notification under paragraph 5a. EBA shall submit those draft implementing technical standards to the Commission by 12 months from the entry into force of the Directive.
Amendment 427 #
Proposal for a directive
Article 35 – paragraph 1 – introductory part
Article 35 – paragraph 1 – introductory part
1. Member States shall require creditors to have adequate policies and procedures so that they make efforts to exercise, where appropriate,exercise reasonable forbearance before enforcement proceed consumers experiencing payment difficulties followings are initiatedn affordability assessment. Such forbearance measures shall be communicated to consumers in a standardised format take into account, among other elements, the consumer’s circumstances and mayshall consist in, among other possibilities :
Amendment 428 #
Proposal for a directive
Article 35 – paragraph 1 – point b – introductory part
Article 35 – paragraph 1 – point b – introductory part
(b) a modification of the existing terms and conditions of a credit agreement, which mayshall include among others:
Amendment 429 #
Proposal for a directive
Article 35 – paragraph 1 – point b – point iv
Article 35 – paragraph 1 – point b – point iv
(iv) changreducing the interest rate;
Amendment 433 #
Proposal for a directive
Article 35 – paragraph 2
Article 35 – paragraph 2
2. The list of potential measures in paragraph 1, point (b), is without prejudice to rules set out in national law and does not require Member States to provide for all of those measuresadditional measures set out in national law.
Amendment 437 #
Proposal for a directive
Article 35 – paragraph 4
Article 35 – paragraph 4
Amendment 439 #
Proposal for a directive
Article 35 – paragraph 5 a (new)
Article 35 – paragraph 5 a (new)
5a. Credit institutions and other creditors shall submit a report to competent authorities on a yearly basis summarising their sound forbearance policies and processes including procedures to detect, as early as possible, borrowers under payment difficulties. The report shall include a summary of the number of borrowers having benefited from forbearance measures and the modalities of forbearance measures that were effective during the previous year. The management body should approve this information prior to submission to competent authorities.
Amendment 440 #
Proposal for a directive
Article 35 – paragraph 5 b (new)
Article 35 – paragraph 5 b (new)
5b. EBA shall draft regulatory technical standards for specifying: (i) the affordability assessment (ii) measures referred to under paragraph 1 and (iii) consumers in payment difficulties. Power is delegated to the Commission to adopt these regulatory technical standards by [1 year after entry into force of this Directive]