Activities of Stéphanie YON-COURTIN related to 2021/0171(COD)
Plenary speeches (1)
Consumer credits (debate)
Shadow reports (1)
REPORT on the proposal for a directive of the European Parliament and of the Council on consumer credits
Amendments (113)
Amendment 73 #
Proposal for a directive
Recital 14
Recital 14
(14) The definitions contained in this Directive determine the scope of harmonisationzation and are without prejudice to national law in the situations indicated below. The obligation on Member States to implement this Directive should therefore be limited to its scope as determined by those definitions. However, this Directive should be without prejudice to the application by Member States, in accordance with Union law, of the provisions of this Directive to areas not covered by its scope. A Member State could thereby maintain or introduce national legislation corresponding to this Directive or certain provisions of this Directive on credit agreements outside its scope, for instance on credit agreements upon the conclusion of which the consumer is requested to deposit an item as security in the creditor's safe-keeping and where the liability of the consumer is strictly limited to that pledged item. Furthermore, Member States could also apply this Directive to linked credit which does not fall within the definition of a linked credit agreement in this Directive. Thus, the provisions of this Directive on linked credit agreements could be applied to credit agreements that serve only partially to finance a contract for the supply of goods or provision of a service.
Amendment 74 #
Proposal for a directive
Recital 15
Recital 15
(15) A number of Member States have applied Directive 2008/48/EC to areas not covered by its scope to enhance the level of consumer protection. In fact, several of the credit agreements not falling within the scope of that Directive can be detrimental for consumers, including short-term high cost loans whose amount is typically lower than the minimum threshold of EUR 200 set out in Directive 2008/48/EC. In this context, and with the aim to ensure a high level of consumer protection and to facilitate the cross-border consumer credit market, the scope of this Directive should cover some agreements that were excluded from the scope of Directive 2008/48/EC, such as consumer credit agreements below the amount of EUR 200. Likewise, other potentially detrimental products, because of the high costs they entail or high fees in case of missed payments, should be covered by this Directive, to ensure increased transparency and better consumerHowever, to maintain the “raison d’être” of these short term/small amount credits, the extension of the scope must be accompanied by protecportion, resulting in higher consumer confidence. To this extent, leasing agreements, credit agreements in the form of an overdraft facility and where the credit has to be repaid within one month, and credit agreements where the credit is granted free of interest and without any other charges, including Buy Now Pay Later schemes, i.e. new digital financial tools that let consumers make purchases and payate requirements. This Directive should not apply to hiring or leasing agreements where an obligation to purchase them off over time, and credit agreements under the terms of which the credit has to be repaid within three months and only insignificant charges are payable should not be excluded from the scope of application of this Directivebject of the agreement is not laid down either by the agreement itself or by any separate agreement. Moreover, all credit agreement up until EUR 100 000 should be included in the scope of application of this Directive. The upper threshold of credit agreements under this Directive should be increased to take into account indexation to adjust for the effects of inflation since 2008 and in coming years.
Amendment 80 #
Proposal for a directive
Recital 26
Recital 26
(26) Consumers who are legally resident in the Union should not be discriminated against on ground of their nationality or place of residence, or on any ground as referred to in Article 21 of the Charter when requesting, concluding or holding a credit agreement or an agreement for the provision of crowdfunding credit services within the Union. However, these provisions are applied without prejudice to the right of creditors not to engage in certain activities in certain Member States.
Amendment 82 #
Proposal for a directive
Recital 30
Recital 30
(30) In order to be able to make their decisions in full knowledge of the facts, consumers should receive adequate information, for careful consideration at their own leisure and convenience, if possible at least one day prior to the conclusion of the credit agreement or of the agreement for the provision of crowdfunding credit services, including information on the conditions and cost of the credit and on their obligations, as well as adequate explanations thereof. These rules should be without prejudice to Council Directive 93/13/EEC29. __________________ 29 Council Directive 93/13/EEC of 5 April 1993 on unfair terms in consumer contracts (OJ L 95, 21.4.1993, p. 29).
Amendment 105 #
Proposal for a directive
Recital 47
Recital 47
(47) The assessment of creditworthiness should be based on information on the financial and economic situation, including income and expenses, of the consumer. The European Banking Authority Guidelines on loan origination and monitoring (EBA/GL/2020/06) provide guidelines on what categories of data may be used for the processing of personal data for creditworthiness purposes, which include evidence of income or other sources of repayment, information on financial assets and liabilities, or information on other financial commitments. Personal data, such as personal data found on social media platforms or health data, including cancer data, should not be used when conducting a creditworthiness assessment. Consumers should provide information about their financial and economic situation in order to facilitate the creditworthiness assessment. In principle, credit should only made available to the consumer 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 likely to be met in the manner required under that agreement. However, should such assessment be negative, the creditor or the provider of crowdfunding credit services can exceptionally make credit available in specific and justified circumstances such as when they have a long-standing relationship with the consumer, or in case of loans to fund exceptional healthcare expenses, students loans or loans for consumers with disabilities. In such case, when deciding on whether or not to make the credit available to the consumer, the creditor or the provider of crowdfunding credit services should take into account the amount and the purpose of the credit, and the likelihood that the obligations resulting from the agreement will be met. However, a positive creditworthiness assessment should not constitute an obligation for the creditor to provide credit.
Amendment 121 #
Proposal for a directive
Recital 15
Recital 15
(15) A number of Member States have applied Directive 2008/48/EC to areas not covered by its scope to enhance the level of consumer protection. In fact, several of the credit agreements not falling within the scope of that Directive can be detrimental for consumers, including short-term high cost loans whose amount is typically lower than the minimum threshold of EUR 200 set out in Directive 2008/48/EC. In this context, and with the aim to ensure a high level of consumer protection and to facilitate the cross-border consumer credit market, the scope of this Directive should cover some agreements that were excluded from the scope of Directive 2008/48/EC, such as consumer credit agreements below the amount of EUR 200. Likewise, other potentially detrimental products, because of the high costs they entail or high fees in case of missed payments, should be covered by this Directive, to ensure increased transparency and better consumer protection, resulting in higher consumer confidence. To this extent, leasing agreementswhilst subject to strict adherence to the principle of proportionality to avoid undue administrative burden, to ensure increased transparency and better consumer protection, resulting in higher consumer confidence. This Directive should not apply to deferred debit cards, under the terms of which the monthly aggregated payments have to be paid in a single debit and only insignificant charges are payable. Nor should it apply to hiring or leasing agreements where an obligation to purchase the object of the agreement is not laid down. Nor should it apply to overdraft facilities where the credit has to be repaid within one month. To this extent, credit agreements in the form of an overdraft facility and where the credit has to be repaid within one month, and credit agreements where the credit is granted free of interest and without any other charges, including Buy Now Pay Later schemes, i.e. new digital financial tools that let consumers make purchases and pay them off over time, and credit agreements under the terms of which the credit has to be repaid within three months and only insignificant charges are payable should not be excluded from the scope of application of this Directive. However, for those credit agreements, Member States should be able to exclude the application of certain provisions of this Directive considering the characteristics of their national market, the duration, risk, and nature of the credit. Moreover, all credit agreement up until EUR 100 000 should be included in the scope of application of this Directive. The upper threshold of credit agreements under this Directive should be increased to take into account indexation to adjust for the effects of inflation since 2008 and in coming years.
Amendment 128 #
Proposal for a directive
Recital 20
Recital 20
(20) Agreements for the provision on a continuing basis of services or for the supply of goods of the same kind, where the consumer pays for them for the duration of their provision by means of instalments, may differ considerably, in terms of the interests of the contractual parties involved, and the modalities and performance of the transactions, from credit agreements covered by this Directive. Therefore, such agreements should not be regarded as credit agreements for the purposes of this Directive. Such agreement includes, for example, an insurance contract where the insurance is paid for in monthly instalments. Hiring and leasing agreements where an obligation to purchase the object of the agreement is not laid down either by the agreement itself or by any separate agreement should not be regarded as credit agreements for the purpose of this Directive
Amendment 131 #
Proposal for a directive
Recital 25 a (new)
Recital 25 a (new)
(25 a) This Directive is without prejudice to Regulation 2016/679 that applies to any processing of personal data carried out by creditors and credit intermediaries falling within the scope of this Directive.
Amendment 131 #
Proposal for a directive
Article 2 – paragraph 2 – point j a (new)
Article 2 – paragraph 2 – point j a (new)
(ja) Rental or leasing agreements in which an obligation to purchase the rental or leasing item is neither laid down by the agreement itself nor by any separate agreement; such an obligation shall be deemed to exist if such an obligation is decided unilaterally by the creditor.
Amendment 134 #
Proposal for a directive
Recital 26
Recital 26
(26) Consumers who are legally resident in the Union should not be discriminated against on ground of their nationality or place of residence, or on any ground as referred to in Article 21 of the Charter when requesting, concluding or holding a credit agreement or an agreement for the provision of crowdfunding credit services within the Union. This is without prejudice to the possibility for the provider of credit services to refuse to enter into a credit service agreement where justified by objective criteria.
Amendment 139 #
Proposal for a directive
Article 2 – paragraph 2 – point j b (new)
Article 2 – paragraph 2 – point j b (new)
Amendment 141 #
Proposal for a directive
Recital 29
Recital 29
(29) Specific provisions should be laid down on advertising of credit agreements or crowdfunding credit services and certain items of standard information to be provided to consumers in order to enable them, in particular, to compare different offers. Such information should be given in a clear, concise and prominent way by means of a representative example. The standard information should be shown upfront and saliently, in a clear way and in an engaging format. It should be clearly legible and adapted to take into account the technical constraints of certain media such as mobile telephone screens and/or digital channels. Temporary promotional conditions, such as a teaser rate with lower interest rate for the initial months of the credit agreement or crowdfunding credit services, should be clearly identified as such. Consumers should see all essential information at a glance, evenwith further information made available on the consumer by clicking or swiping when they watch it on the screen of a mobile telephone. The creditor and, where applicable, credit intermediary and provider of crowdfunding credit services’ telephone number and email address should also be communicated to the consumer to enable him or her to contact the creditor, the credit intermediary or provider of crowdfunding credit services quickly and efficiently. A ceiling should be provided where it is not possible to indicate the total amount of credit as the total sums made available, in particular where a credit agreement gives the consumer freedom of drawdown with a limitation with regard to the amount. The ceiling should indicate the upper limit of credit which can be made available to the consumer. In specific and justified cases, in order to improve consumer understanding of information disclosed in advertising of credit agreements or crowdfunding credit services where the medium used does not allow to visually display it, such as in radio advertising or digital channels, the amount of information disclosed could be reduced. In addition, Member States should remain free to regulate information requirements in their national law regarding advertising of credit agreements or crowdfunding credit services which does not contain information on the cost of the credit.
Amendment 145 #
Proposal for a directive
Article 2 – paragraph 3
Article 2 – paragraph 3
3. Notwithstanding paragraph 2, point (c), this Directive applies to unsecured credit agreements involving a total amount of credit of more than EUR 100 000, where the purpose of those credit agreements is the renovation of a residential immovable property, provided they do not fall under the scope of different national legislation.
Amendment 146 #
Proposal for a directive
Recital 30
Recital 30
(30) In order to be able to make their decisions in full knowledge of the facts, consumers should receive adequate pre- contractual information, for careful consideration at their own leisure and convenience, at least one dayin due time prior to the conclusion of the credit agreement or of the agreement for the provision of crowdfunding credit services, including information on the conditions and cost of the credit and on their obligations, as well as adequate explanations thereof. These rules should be without prejudice to Council Directive 93/13/EEC29 . _________________ 29 Council Directive 93/13/EEC of 5 April 1993 on unfair terms . In case pre- contractual information is provided less than one day before the consumer is bound by any credit agreement or agreement for the provision of crowdfunding credit services, the creditor and, where applicable, the credit intermediary or providers of crowdfunding credit services should provide the information before the consumer is bound and remind consumer contracts (OJ L 95, 21.4.1993, p. 29)s, one day after conclusion of the contract, of the possibility to withdraw from the credit agreement.
Amendment 157 #
Proposal for a directive
Recital 31
Recital 31
(31) Pre-contractual information should be provided through the Standard European Consumer Credit Information form. To help consumers understand and compare offers, athe Standard European Consumer Credit Overview form summarising the key element of the credit should be proviInformation form should included in addition to the Standard European Consumer Credit Information formits first page all the key elements of the credit, through which consumers should see all essential information at a glance, even on the screen of a mobile telephone. Information should be clear, clearly legible and adapted to the technical constraints of certain media such as mobile telephone screens. It should be displayed in an adequate and suitable way on the different channels, to ensure that every consumer can access information on an equal basis and in line with Directive (EU) 2019/882 of the European Parliament and of the Council30 . _________________ 30 Directive (EU) 2019/882 of the European Parliament and of the Council of 17 April 2019 on the accessibility requirements for products and services (OJ L 151, 7.6.2019, p. 70).
Amendment 161 #
Proposal for a directive
Recital 32
Recital 32
(32) To ensure the fullest possible transparency and comparability of offers, pre-contractual information should, in particular, include the annual percentage rate of charge applicable to the credit, determined in the same way throughout the Union. As the annual percentage rate of charge can at this stage be indicated only through an example, such example should be representative. Therefore, it should correspond, for instance, to the average duration and total amount of credit granted for the type of credit agreement or crowdfunding credit services under consideration and, if applicable, to the goods purchased. When determining the representative example, the frequency of certain types of credit agreement or crowdfunding credit services in a specific market should also be taken into account. As regards the borrowing rate, the frequency of instalments and the capitalisation of interest, creditors should use their usual method of calculation for the consumer credit concerned. In case pre- contractual information is provided less than one day before the consumer is bound by any credit agreement or agreement for the provision of crowdfunding credit services, the creditor and, where applicable, the credit intermediary or providers of crowdfunding credit services should remind consumers, at the latest one day after conclusion of the contract, of the possibility to withdraw from the credit agreement.
Amendment 167 #
Proposal for a directive
Recital 44
Recital 44
(44) Credit sales that have not been solicited by the consumers may in some cases be associated with practices that are harmful to the consumer. In this regard, without prejudice to the creditor's possibility of making offers to consumers, unsolicited salegranting of credit, including non- requested pre-approved credit cards sent to the consumers consumers, or the unilateral increase of a consumers’ overdraft or credit card limit, should be prohibited.
Amendment 171 #
Proposal for a directive
Article 7 – paragraph 1
Article 7 – paragraph 1
Without prejudice to Directive 2005/29/EC, Member States shall require that any advertising and marketing communications concerning credit agreements or crowdfunding credit services covered by this legislation are fair, clear and not misleading. Wording in such advertising and marketing communications that may create false expectations for a consumer regarding the availability or the cost of a credit shall be prohibited.
Amendment 174 #
Proposal for a directive
Recital 46
Recital 46
(46) It is essential that the consumer’s ability and propensity to repay the credit is assessed and verified before a credit agreement or an agreement for the provision of crowdfunding credit services is concluded. That assessment of creditworthiness should be proportionate and be done in the interest of the consumer, to prevent irresponsible lending practices and over- indebtedness, and should take into consideration all necessary and relevant factors that could influence a consumer’s ability to repay the credit. Member States should be able to issue additional guidance on additional criteria and methods to assess a consumer’s creditworthiness, for example by setting limits on loan-to-value or loan- to-income ratios.
Amendment 178 #
Proposal for a directive
Recital 47
Recital 47
(47) The assessment of creditworthiness should be based on information on the financial and economic situation, including income and expenses, of the consumer or on statistical data where this is proportionate vis-à-vis the loan value, duration or the characteristics of the credit. The European Banking Authority Guidelines on loan origination and monitoring (EBA/GL/2020/06) provide guidelines on what categories of data may be used for the processing of personal data for creditworthiness purposes, which include evidence of income or other sources of repayment, information on financial assets and liabilities, or information on other financial commitments. Personal data, such as personal data found on social media platforms or health data, including cancer data, should not be used when conducting a creditworthiness assessment. Member States should guarantee the right to be forgotten to all European patients 10 years after the end of their treatment, and up to five years after the end of treatment for patients whose diagnosis was made before the age of 18 in the area of creditworthiness assessment and ensure equal access to credit for cancer survivors. Consumers should provide information about their financial and economic situation in order to facilitate the creditworthiness assessment. In principle, credit should only made available to the consumer 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 likely to be met in the manner required under that agreement. However, should such assessment be negative, the creditor or the provider of crowdfunding credit services can exceptionally make credit available in specific and justified circumstances such as when they have a long-standing relationship with the consumer, or in case of loans to fund exceptional healthcare expenses, students loans or loans for consumers with disabilities. In such case, when deciding on whether or not to make the credit available to the consumer, the creditor or the provider of crowdfunding credit services should take into account the amount and the purpose of the credit, and the likelihood that the obligations resulting from the agreement will be met. However, a positive creditworthiness assessment should not constitute an obligation for the creditor to provide credit.
Amendment 188 #
Proposal for a directive
Recital 48
Recital 48
(48) The Proposal for a Regulation laying down harmonised rules on artificial intelligence (Artificial Intelligence Act), establishes that AI systems used to evaluate the credit score or creditworthiness of natural persons should be classified as high-risk AI systems, since they determine those persons’ access to financial resources or essential services such as housing, electricity, and telecommunication services. In view of those high stakes, whenever the creditworthiness assessment involves automated processing, the consumer should have a right to obtain human intervention on the part of the creditor or providers of crowdfunding credit services. TWithout prejudice to the General Data Protection Regulation, the consumer should also have the right to obtain a meaningful explanation of the assessment made and of the functioning of the automated processing used, including among others the main variables, the logic and risks involved, as well as a right to express his or her point of view and to contest the assessment of the creditworthiness and the decision.
Amendment 191 #
Proposal for a directive
Recital 49
Recital 49
(49) To assess the credit status of a consumer, the creditor or the provider of crowdfunding credit services should have the ability to also consult credit databases. The legal and actual circumstances may require that such consultations vary in scope. To prevent any distortion of competition among creditors or providers of crowdfunding credit services, they should have access to private or public credit databases concerning consumers in a Member State where they are not established under non- discriminatory conditions compared with creditors or providers of crowdfunding credit services established in that Member State. Member States should facilitate the cross-border access to private or public databases, in compliance with the Regulation (EU) 2016/679 of the European Parliament and of the Council33 . To enhance reciprocity, credit databases should as a minimum hold information on consumers’ arrears in payment, in accordance with Union and national law. _________________ 33 Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (OJ L 119, 4.5.2016, p. 1).
Amendment 192 #
Proposal for a directive
Article 9 – paragraph 1
Article 9 – paragraph 1
1. Member States shall ensure that clear and comprehensible general information about credit agreements or crowdfunding credit services is made available to consumers by creditors or, where applicable, by credit intermediaries or providers of crowdfunding credit services, at all times in electronic form or on request by the customer on paper or on another durable medium.
Amendment 197 #
Proposal for a directive
Article 10 – paragraph 1 – subparagraph 1
Article 10 – paragraph 1 – subparagraph 1
1. Member States shall require that the creditor and, where applicable, the credit intermediary or the provider of crowdfunding credit services provide the consumer with the pre-contractual information needed to compare different offers in order to take an informed decision on whether to conclude a credit agreement or crowdfunding credit services on the basis of the credit terms and conditions offered by the creditor or by the provider of crowdfunding credit services and, where applicable, the preferences expressed and information supplied by the consumer. Such pre-contractual information shall be provided to the consumer at least one dayin due time before he or she is bound by any credit agreement or offer, or by any agreement or offer for the provision of crowdfunding credit services.
Amendment 203 #
Proposal for a directive
Article 10 – paragraph 3 – subparagraph 1 – point q
Article 10 – paragraph 3 – subparagraph 1 – point q
(q) the right of early repayment, and, where applicable, information concerning the creditor's right to compensation and the way in which that compensation will be determined in accordance with Article 29;
Amendment 205 #
Proposal for a directive
Recital 62
Recital 62
(62) The consumer should have the right to discharge his or her obligations before the date agreed in the credit agreement. As provided by the Court of Justice. The consumer should have the right to a reduction in the total cost of the credit in the event of early repayment of the credit includes all the costs imposed by creditor ofn the EU Lexitor ruling,34 the right of the consumer to a reduction in the total cost of the credit in the event of early repayment of the credit includes all the costs imposconsumer with the exclusion of up- front costs - insofar as they are preliminary and preparatory activities for the granting of the loan, and are fully exhausted at the time of granting the loan- that have been adequately identified and declared and the cost of third parties (e.g fee of credit intermediaries, insurance charges and taxes). As regards the method of reimbursement, the amortised cost criterion (interest curve) for the calculation of the proportional reduction of costs should apply unless it is otherwise regulated oin the consumertract taken in account. In the case of early repayment the creditor should be entitled to a fair and objectively justified compensation for the costs directly linked to the early repayment, taking into account also any savings thereby made by the creditor. However, in order to determine the method of calculating the compensation, it is important to respect several principles. The calculation of the compensation due to the creditor should be transparent and comprehensible to consumers already at the pre-contractual stage and in any case during the performance of the credit agreement. In addition, the calculation method should be easy for creditors to apply, and supervisory control of the compensation by the competent authorities should be facilitated. Therefore, and due to the fact that consumer credit is, given its duration and volume, not financed by long- term funding mechanisms, the ceiling for the compensation should be fixed in terms of a flat-rate amount. This approach reflects the specific nature of consumer credits and should not prejudice the approach in respect of other products which are financed by long-term funding mechanisms, such as fixed-rate mortgage loans. _________________ 34 Judgment of the Court of Justice of 11 September 2019, Lexitor, C-383/18, ECLI:EU:C:2019:702.
Amendment 208 #
Proposal for a directive
Article 10 – paragraph 4
Article 10 – paragraph 4
Amendment 212 #
Proposal for a directive
Recital 65
Recital 65
(65) The fixing of caps on interest rates, on annual percentage rates of charge and or the total cost of the credit to the consumer is a common practice in a number of Member States. Such capping has proved beneficial for consumers. In that context, Member States should be able to maintain their current legal regime. However, in an effort to increase consumer protection without imposing unnecessary limits on Member States,, Member States should be able to set caps on interest rates, on annual percentage rates of charge and or on the total cost of the credit to the consumer should be introduced throughout the Union.
Amendment 212 #
Proposal for a directive
Article 10 – paragraph 4 – introductory part
Article 10 – paragraph 4 – introductory part
4. At the same time as the Standard European Consumer Credit Information form is provided to the consumer, the creditor and, where applicable, the credit intermediary or the provider of crowdfunding credit services, shallmay provide the consumer with the Standard European Consumer Credit Overview form set out in Annex II, containing the following pre- contractual information:
Amendment 250 #
Proposal for a directive
Article 2 – paragraph 2 – point j a (new)
Article 2 – paragraph 2 – point j a (new)
(j a) hiring or leasing agreements where an obligation to purchase the object of the agreement is not laid down either by the agreement itself or by any separate agreement;
Amendment 255 #
Proposal for a directive
Article 2 – paragraph 2 – point j b (new)
Article 2 – paragraph 2 – point j b (new)
(j b) deferred debit cards when provided with a bank account;
Amendment 257 #
Proposal for a directive
Article 2 – paragraph 2 – point j c (new)
Article 2 – paragraph 2 – point j c (new)
(j c) overdraft facilities where the credit has to be repaid within one month, when linked to a bank account
Amendment 270 #
Proposal for a directive
Article 2 – paragraph 6 a (new)
Article 2 – paragraph 6 a (new)
6 a. Member States may determine that articles 8(2)points d to f, 10(3a), 10(8), 11(2a), 21(3 )and 29 shall not apply to the following credit agreements: credit agreements involving a total amount of credit less than EUR 200; credit agreements in the form of an overdraft facility and where the credit has to be repaid within three months; credit agreements where the credit is granted free of interest and without any other charges; credit agreements under the terms of which the credit has to be repaid within three months and only insignificant charges are payable.
Amendment 275 #
Proposal for a directive
Article 3 – paragraph 1 – point 3
Article 3 – paragraph 1 – point 3
(3) ‘credit agreement’ means an agreement whereby a creditor grants or promises to grant to a consumer credit in the form of a deferred payment, loan or other similar financial accommodation, except for: (i) agreements for the provision on a continuing basis of services or for the supply of goods of the same kind, where the consumer pays for such services or goods for the duration of their provision by means of instalments; (ii) hiring or leasing agreements where an obligation to purchase the object of the agreement is not laid down either by the agreement itself or by any separate agreement;
Amendment 282 #
Proposal for a directive
Article 17 – paragraph 1
Article 17 – paragraph 1
Member States shall prohibit any sale of credit to consumers, without their prior request andor explicit agreement.
Amendment 288 #
Proposal for a directive
Article 18 – paragraph 1
Article 18 – paragraph 1
1. Member States shall require that, before concluding a credit agreement, or an agreement for the provision of crowdfunding credit services, the creditor or, where applicable, the provider of crowdfunding credit services makes a thorough assessment of the consumer’s creditworthiness. That assessment shall be done in the interest of the consumer, to prevent irresponsible lending practices and over-indebtedness, and shall take appropriate and proportionate account of factors relevant to verifying the prospect of the consumer to meet his or her obligations under the credit agreement or the agreement for the provision of crowdfunding credit services, according to the nature, duration and the risk profile of the consumer.
Amendment 303 #
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 verified, where necessary through reference to independently verifiable documentation or by statistical methods with automated decision-making.
Amendment 307 #
Proposal for a directive
Article 18 – paragraph 3 – subparagraph 2
Article 18 – paragraph 3 – subparagraph 2
Amendment 310 #
Proposal for a directive
Article 18 – paragraph 4 – subparagraph 1
Article 18 – paragraph 4 – subparagraph 1
4. Member States shall ensure that the creditor or the provider of crowdfunding credit services only makes the credit available to the consumer 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 likely to be met in the manner required under that agreement. However, a positive creditworthiness assessment should not constitute an obligation for the creditor to provide credit.
Amendment 311 #
Proposal for a directive
Article 6
Article 6
Amendment 331 #
Proposal for a directive
Article 18 – paragraph 9 a (new)
Article 18 – paragraph 9 a (new)
9a. Notwithstanding the preceding paragraphs and for proportionality reasons, for credits Agreements below the amount of EUR 250 or credit agreements under the terms of which the credit has to be repaid within three months, the creditor complies with the requirements of this article through the consultation of the relevant databases referred to in article 19 of the directive.
Amendment 332 #
Proposal for a directive
Article 18 – paragraph 9 b (new)
Article 18 – paragraph 9 b (new)
9b. Member States shall require that each creditors, credit intermediaries and providers of crowdfunding credit services that are not credit institutions as defined in Article 4(1), point(1), of Regulation (EU) No 575/2013 , authorised to consult the relevant databases referred to in article 19, are obliged to the enrichment of them.
Amendment 342 #
Proposal for a directive
Article 8 – paragraph 3 a (new)
Article 8 – paragraph 3 a (new)
3 a. When the medium used to communicate the standard information does not allow for the information to be visually displayed in a simple manner, the consumer should be able to access further information by means of clicking or swiping;
Amendment 343 #
Proposal for a directive
Article 21 – paragraph 3 a (new)
Article 21 – paragraph 3 a (new)
Amendment 350 #
Proposal for a directive
Article 9 – paragraph 1
Article 9 – paragraph 1
1. Member States shall ensure that clear and comprehensible general information about credit agreements or crowdfunding credit services is made available to consumers by creditors or, where applicable, by credit intermediaries or providers of crowdfunding credit services, at all times in electronic form, on paper or on another durable medium.
Amendment 352 #
Proposal for a directive
Article 24 a (new)
Article 24 a (new)
Amendment 361 #
Proposal for a directive
Article 10 – paragraph 1 – introductory part
Article 10 – paragraph 1 – introductory part
1. Member States shall require that the creditor and, where applicable, the credit intermediary or the provider of crowdfunding credit services provide the consumer with the pre-contractual information needed to compare different offers in order to take an informed decision on whether to conclude a credit agreement or crowdfunding credit services on the basis of the credit terms and conditions offered by the creditor or by the provider of crowdfunding credit services and, where applicable, the preferences expressed and information supplied by the consumer. Such pre-contractual information shall be provided to the consumer at least one dayin due time before the or sheconsumer is bound by any credit agreement or offer, or by any agreement or offer for the provision of crowdfunding credit services.
Amendment 367 #
Proposal for a directive
Article 10 – paragraph 1 – subparagraph 1
Article 10 – paragraph 1 – subparagraph 1
In case the pre-contractual information referred to in the first subparagraph is provided less than one day before the consumer is bound by the credit agreement or offer, or by any agreement or offer for the provision of crowdfunding credit services, Member States shall require that the creditor and, where applicable, the credit intermediary or the provider of crowdfunding credit services send a reminderprovide the pre-contractual information before the consumer is bound by the credit agreement or offer and send a reminder, by digital means, on paper or on another durable medium, to the consumer of the possibility to withdraw from the credit agreement or crowdfunding credit services and of the procedure to follow for withdrawing, in accordance with Article 26. That reminder shall be provided to the consumer, at the latest, one day after the conclusion of the credit agreement, of the agreement for the provision of crowdfunding credit services, or the acceptance of the credit offer.
Amendment 373 #
Proposal for a directive
Article 10 – paragraph 2
Article 10 – paragraph 2
2. The pre-contractual information referred to in paragraph 1 shall be provided by digital means or on paper or on another durable medium by means of the Standard European Consumer Credit Information form set out in Annex I. All the information provided in the form shall be equally prominent. The creditor shall be deemed to have fulfilled the information requirements in this paragraph and in Article 3, paragraphs (1) and (2) of Directive 2002/65/EC if he or she has supplied the Standard European Consumer Credit Information.
Amendment 375 #
Proposal for a directive
Article 10 – paragraph 3 – introductory part
Article 10 – paragraph 3 – introductory part
3. The pre-contractual information referred to in paragraph 1 shall specify all of the following elements, displayed on the first page of the Standard European Consumer Credit Information form and in a prominent way and readable for the consumer:
Amendment 376 #
Proposal for a directive
Article 10 – paragraph 3 – point a
Article 10 – paragraph 3 – point a
Amendment 380 #
Proposal for a directive
Article 10 – paragraph 3 – point b
Article 10 – paragraph 3 – point b
Amendment 381 #
Proposal for a directive
Article 31
Article 31
Amendment 382 #
Proposal for a directive
Article 10 – paragraph 3 – point c
Article 10 – paragraph 3 – point c
(c) the total amount of credit and the conditions governing the drawdown;
Amendment 383 #
Proposal for a directive
Article 10 – paragraph 3 – point d
Article 10 – paragraph 3 – point d
Amendment 386 #
Proposal for a directive
Article 31 – paragraph 1 – introductory part
Article 31 – paragraph 1 – introductory part
1. Member States shallmay introduce caps on one or more of the following:
Amendment 387 #
Proposal for a directive
Article 10 – paragraph 3 – point f
Article 10 – paragraph 3 – point f
(f) the borrowing rate, or all borrowing rates where different borrowing rates apply in different circumstances, the conditions governing the application of each borrowing rate and, where available, any index or reference rate applicable to each initial borrowing rate , as well as the periods, conditions and procedures for changing each borrowing rate;
Amendment 390 #
Proposal for a directive
Article 10 – paragraph 3 – point g
Article 10 – paragraph 3 – point g
(g) the annual percentage rate of charge and the total amount payable by the consumer, illustrated by means of a representative example mentioning all the assumptions used in order to calculate that rate; Where the consumer has informed the creditor or the provider of crowdfunding credit services of one or more components of his or her preferred credit, such as the duration of the credit agreement or of the agreement for the provision of crowdfunding credit services and the total amount of credit, the creditor or the provider of crowdfunding credit services shall take those components into account;
Amendment 392 #
Proposal for a directive
Article 10 – paragraph 3 – point h
Article 10 – paragraph 3 – point h
Amendment 393 #
Proposal for a directive
Article 10 – paragraph 3 – point i
Article 10 – paragraph 3 – point i
Amendment 394 #
Proposal for a directive
Article 10 – paragraph 3 – point j
Article 10 – paragraph 3 – point j
Amendment 395 #
Proposal for a directive
Article 10 – paragraph 3 – point k
Article 10 – paragraph 3 – point k
Amendment 396 #
Proposal for a directive
Article 10 – paragraph 3 – point l
Article 10 – paragraph 3 – point l
Amendment 397 #
Proposal for a directive
Article 10 – paragraph 3 – point m
Article 10 – paragraph 3 – point m
(m) costs in the case of late payments, i.e. the interest rate applicable in the case of late payments and the arrangements for its adjustment, and, where applicable, any charges payable for default;
Amendment 398 #
Proposal for a directive
Article 10 – paragraph 3 – point n
Article 10 – paragraph 3 – point n
Amendment 402 #
Proposal for a directive
Article 10 – paragraph 3 – point o
Article 10 – paragraph 3 – point o
Amendment 405 #
Proposal for a directive
Article 10 – paragraph 3 – point p
Article 10 – paragraph 3 – point p
(p) the existence or absence of a right of withdrawal;
Amendment 406 #
Proposal for a directive
Article 10 – paragraph 3 – point q
Article 10 – paragraph 3 – point q
Amendment 407 #
Amendment 408 #
Proposal for a directive
Article 10 – paragraph 3 – point s
Article 10 – paragraph 3 – point s
Amendment 410 #
Proposal for a directive
Article 10 – paragraph 3 – point t
Article 10 – paragraph 3 – point t
Amendment 411 #
Proposal for a directive
Article 10 – paragraph 3 – point u
Article 10 – paragraph 3 – point u
Amendment 412 #
Proposal for a directive
Article 10 – paragraph 3 – point v
Article 10 – paragraph 3 – point v
Amendment 415 #
Proposal for a directive
Article 10 – paragraph 3 a (new)
Article 10 – paragraph 3 a (new)
Amendment 419 #
Proposal for a directive
Article 10 – paragraph 4
Article 10 – paragraph 4
Amendment 441 #
Proposal for a directive
Article 10 – paragraph 5 – introductory part
Article 10 – paragraph 5 – introductory part
5. Information displayed in the Standard European Consumer Credit Information form and in the Standard European Consumer Credit Overview form shall be consistent. It shall be clearly legible and take into account the technical constraints of the medium on which it is displayed. Information shall be displayed in an adequate and suitable way on the different channels.
Amendment 446 #
Proposal for a directive
Article 10 – paragraph 5 – subparagraph 1
Article 10 – paragraph 5 – subparagraph 1
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.
Amendment 457 #
Proposal for a directive
Article 10 – paragraph 7
Article 10 – paragraph 7
7. If the agreement has been concluded at the consumer's request using 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 services.
Amendment 462 #
Proposal for a directive
Article 10 – paragraph 8
Article 10 – paragraph 8
8. Upon request from the consumer, the 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.
Amendment 469 #
Proposal for a directive
Article 11 – paragraph 1
Article 11 – paragraph 1
1. For credit agreements referred to in Article 2(5) or (6), the pre-contractual information referred to in Article 10(1) shall, by way of derogation from paragraph 2 of that Article, be provided on paper or on another durable medium by means of the European Consumer Credit Information form set out in Annex III. All information provided in that form shall be equally prominent. The creditor shall be deemed to have fulfilled the information requirements in this paragraph and in Article 3, paragraphs (1) and (2) of Directive 2002/65/EC if he or she has supplied the European Consumer Credit Information.
Amendment 470 #
Proposal for a directive
Article 47 – paragraph 2
Article 47 – paragraph 2
Directive 2008/48/EC shall also continue to apply to credit agreements existing on [OP: please insert date - six12 months from the transposition deadline] until [their termination].
Amendment 472 #
Proposal for a directive
Article 47 – paragraph 3
Article 47 – paragraph 3
However, Articles 23 and 24, Article 25(1), second sentence, Article 25(2) and Articles 28 and 39 of this Directive shall apply to all open-end credit agreements existing on [OP: please insert date - six12 months from the transposition deadline].
Amendment 479 #
Proposal for a directive
Annex II
Annex II
Amendment 487 #
Proposal for a directive
Article 11 – paragraph 6
Article 11 – paragraph 6
6. Upon request from the consumer, the creditor and, where applicable, the credit intermediary shall, in addition to the European Consumer Credit Information and the Standard European Consumer Credit Overview form, provide the consumer free of charge with a copy of the draft credit agreement, provided that the creditor at the time of the request is willing to proceed to the conclusion of the credit agreement with the consumer.
Amendment 491 #
Proposal for a directive
Article 11 – paragraph 7
Article 11 – paragraph 7
7. If the agreement has been concluded at the consumer's request using a means of distance communication which does not enable the information to be provided in accordance with this Article, the creditor shall immediately after the conclusion of the credit agreement provide the consumer with the European Consumer Credit Information form and the Standard European Consumer Credit Overview form immediately after the conclusion of the credit agreement.
Amendment 502 #
Proposal for a directive
Article 13 – paragraph 1
Article 13 – paragraph 1
Without prejudice to Regulation 2016/679, Member States shall require that creditors, credit intermediaries and providers of crowdfunding credit services inform consumers when they are presented with a personalised offer that is based on profiling or other types of automated processing of personal data.
Amendment 515 #
Proposal for a directive
Article 14 – paragraph 3
Article 14 – paragraph 3
3. By way of derogation from paragraph 1 and without prejudice to the application of competition law, Member States may allow tying practices where the creditor or the provider of crowdfunding credit services can demonstrate to the competent authority that the tied products or categories of product offered, on terms and conditions similar to each other, aresult in a clear of benefit to the consumers taking due account of the availability and the prices of the relevant products offered on the market.
Amendment 521 #
Proposal for a directive
Article 14 – paragraph 4 a (new)
Article 14 – paragraph 4 a (new)
4 a. This article does not prohibit the tying of an overdraft facility with the consumer’s payment account.
Amendment 529 #
Proposal for a directive
Article 16 – paragraph 3 – point d
Article 16 – paragraph 3 – point d
(d) act in the best interests of the consumer by informing themselves about the consumer’s needs and circumstances and recommending suitable credit agreements;
Amendment 539 #
Proposal for a directive
Article 17 – title
Article 17 – title
Ban on unsolicited granting of credit sales
Amendment 544 #
Proposal for a directive
Article 17 – paragraph 1
Article 17 – paragraph 1
Member States shall prohibit any salegranting of credit to consumers, without their prior request and explicit agreement.
Amendment 553 #
Proposal for a directive
Article 18 – paragraph 1
Article 18 – paragraph 1
1. Member States shall require that, before concluding a credit agreement, or an agreement for the provision of crowdfunding credit services, the creditor or, where applicable, the provider of crowdfunding credit services makes a thoroughrelevant assessment of the consumer’s creditworthiness. That assessment shall be done in the interest of the consumer, to prevent irresponsible lending practices and over-indebtedness, and shall take appropriate and proportionate account of factors relevant to verifying the prospect of the consumer to meet his or her obligations under the credit agreement or the agreement for the provision of crowdfunding credit services.
Amendment 561 #
Proposal for a directive
Article 18 – paragraph 2 – introductory part
Article 18 – paragraph 2 – introductory part
2. The assessment of creditworthiness shall be carried out 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 commitmentstaking into account the nature, duration, complexity and value of the credit provided. The information shall be obtained from relevant internal or external sources, including the consumer and,or where necessary, on the basis of a consultation of a database referred to in Article 19.
Amendment 567 #
Proposal for a directive
Article 18 – paragraph 2 – subparagraph 1
Article 18 – paragraph 2 – subparagraph 1
The information obtained in accordance with this paragraph shall be appropriately verified, where necessary through reference to independently verifiable documentation or by using statistical methods within automated decision- making systems.
Amendment 582 #
Proposal for a directive
Article 18 – paragraph 3 – introductory part
Article 18 – paragraph 3 – introductory part
3. Member States shall requiensure that the creditor or, where applicable, the provider of crowdfunding credit services establishes procedures for the assessment referred to in paragraph 1 and that theis required to reassess the consumer’s creditworthiness orn the provider of crowdfunding credit services documents and maintains such proceduresbasis of updated information before any significant increase in the total amount of credit is granted.
Amendment 583 #
Proposal for a directive
Article 18 – paragraph 3 a (new)
Article 18 – paragraph 3 a (new)
3 a. Member States shall guarantee that the right to be forgotten to all European patients 10 years after the end of their treatment, and up to five years after the end of treatment for patients whose diagnosis was made before the age of 18. Member States shall ensure equal access to credit for cancer survivors.
Amendment 586 #
Proposal for a directive
Article 18 – paragraph 4 – introductory part
Article 18 – paragraph 4 – introductory part
4. Member States shall ensure that the creditor or the provider of crowdfunding credit services is only able to makes the credit available to the consumer where the result of the creditworthiness assessment indicates that there is no significant doubt that the obligations resulting from the credit agreement or the agreement for the provision of crowdfunding credit services are likely towill be met in the manner required under that agreement.
Amendment 601 #
Proposal for a directive
Article 18 – paragraph 6 – introductory part
Article 18 – paragraph 6 – introductory part
6. Without prejudice to Regulation 2016/679, where the creditworthiness assessment involves the use of profiling or other automated processing of personal data, Member States shall ensure that the consumer has the right to: obtain human intervention for clear explanation, express his or her point of view and to contest the decision.
Amendment 604 #
Proposal for a directive
Article 18 – paragraph 6 – point a
Article 18 – paragraph 6 – point a
Amendment 609 #
Proposal for a directive
Article 18 – paragraph 6 – point b
Article 18 – paragraph 6 – point b
Amendment 614 #
Proposal for a directive
Article 18 – paragraph 6 – point c
Article 18 – paragraph 6 – point c
Amendment 620 #
Proposal for a directive
Article 18 – paragraph 7
Article 18 – paragraph 7
7. Member States shall ensure that where the credit application is rejected the creditor or the provider of crowdfunding credit services is required to inform the consumer without delay of the rejection and, where applicable, of the fact that the assessment of creditworthiness is based on automated processing of data.
Amendment 628 #
Proposal for a directive
Article 18 – paragraph 9
Article 18 – paragraph 9
9. Member States whose legislationmay requires creditors or providers of crowdfunding credit services to assess the creditworthiness of consumers on the basis of a consultation of the relevant database may retain this requirement.
Amendment 677 #
Proposal for a directive
Article 26 – paragraph 1 – subparagraph 2
Article 26 – paragraph 1 – subparagraph 2
The deadline referred to in the first subparagraph shall be deemed to have been met if the notification referred to in paragraph 3, point (a), is dispatched by the consumer to the creditor of to the provider of crowdfunding credit services before that deadline expires. If the creditor or the provider of crowdfunding credit services has not provided the consumer with the information on the right of withdrawal in accordance with Article 21(1) paragraph b) , the withdrawal period shall expire 14 days plus 12 months after the day of the conclusion of the credit agreement or of the agreement for the provision of crowdfunding credit services.
Amendment 692 #
Proposal for a directive
Article 29 – paragraph 1
Article 29 – paragraph 1
1. Member States shall ensure that the consumer is at any time entitled to early repayment. In such cases, the consumer shall be entitled to a reduction in the total cost of the credit, consisting of the interest and the costs for the remaining duration of the contract. When calculating that reduction, all the costs imposed on the consumer by the creditor, except for fees corresponding to services effectively provided to the consumer or to costs effectively incurred by the lender, as well as third party costs, shall be taken into consideration.
Amendment 704 #
Proposal for a directive
Article 31
Article 31
Amendment 754 #
Proposal for a directive
Article 36 – paragraph 1
Article 36 – paragraph 1
Member States shall ensure that debt advisory services are made available to consumers who experience or might experience difficulties in meeting their financial commitments.
Amendment 761 #
Proposal for a directive
Article 37 – paragraph 1
Article 37 – paragraph 1
Member States shall ensurequire that creditors, credit intermediaries and providers of crowdfunding credit services that are not credit institutions as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013 are subject to an adequate admission process and to registration and supervision arrangements set up by an independent competent authority. The Commission shall regularly monitor and review the efficiency of the measures taken.
Amendment 766 #
Proposal for a directive
Article 37 – paragraph 1 a (new)
Article 37 – paragraph 1 a (new)
The possibility to offer consumer credits shall be restricted to those entities that have obtained the authorization referred to in Article 37 (1).
Amendment 805 #
Proposal for a directive
Annex II
Annex II
Amendment 806 #
Proposal for a directive
Annex II – paragraph 1
Annex II – paragraph 1
Amendment 807 #
Proposal for a directive
Annex II – paragraph 2
Annex II – paragraph 2
Amendment 808 #
Proposal for a directive
Annex II – paragraph 3
Annex II – paragraph 3