58 Amendments of Aurore LALUCQ related to 2021/0171(COD)
Amendment 90 #
Proposal for a directive
Recital 41
Recital 41
(41) As a general rule, tying practices should not be allowed unless the financial service or product offered together with the credit agreement or crowdfunding credit services could not be offered separately as it is a fully integrated part of the credit, for example in the event of an overdraft facility. While, taking into account proportionality considerations, creditors or providers of crowdfunding credit services should be able to require the consumer to have a relevant insurance policy in order to guarantee repayment of the credit or to insure the value of the security, the consumer should have the opportunity to choose his or her own insurance provider. This should not prejudice the credit conditions set by the creditor or the provider of crowdfunding credit services, provided that the insurance policy of that provider has an equivalent level of guarantee as the insurance policy proposed or offered by the creditor or providers of crowdfunding credit services. Moreover, Member States should have the possibility to standardise, wholly or in part, the cover provided by insurance contracts in order to facilitate comparisons between different offers for consumers who wish to make such comparisons. Creditors should not use bundling practices which de facto remove consumer choice and lead to prohibited tying (for example due to disproportionate terms and conditions when purchasing the loan or the ancillary product separately). Credit 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 93 #
Proposal for a directive
Recital 44
Recital 44
(44) Credit offers or 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, Member States shall prohibit (i) unsolicited sales of credit, including non- requested pre-approved credit cards sent to the consumers, or the unilateral increase of a consumers’ overdraft or credit card limit, should be prohibitedand (ii) unsolicited credit offers, including visits by the creditor or credit intermediary to the consumer’s place of residence or place of employment, on the occasion of which a credit offer is made to the consumer, without the prior express consent of the consumer; and the creditor or credit intermediary sending to a consumer, by any means of communication, a credit offer, a credit contract, or a payment instrument, without the prior request or express consent of the consumer or apre-existing legal or contractual obligation.
Amendment 97 #
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 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, as well as a consumer’s ability to afford the credit. Member States should be able to issue additional guidance on additional criteria and methods to assess a consumer’s credit worthiness, for example by setting limits on loan-to-value or loan-to-income ratios. Reasonable allowances should be made 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. Prudent allowances should also be made for future events during the term of the proposed credit agreement such as a reduction in income or, where applicable, an increase in the borrowing rate or negative change in the exchange rate, or deferred payments of principal or interest. In the case of variable rates, the maximum possible increase should be taken into account.
Amendment 102 #
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 negativeThe creditor's decision and his detailed justification for granting such a credit should be duly documented. Member States shall ensure that the creditworthiness assessment and corresponding re-payment plans are tailored to the borrower’s specific profile and repayment capacity, including in the case of the most vulnerable consumers. In particular, twhere a creditor or thea provider of crowdfunding credit services can exceptionally make credit available in specific and justified circumstances such as when they have a long-standing relationship wfulfils a social purpose as required by national law, the specificities of the loan such as its nature, maturity and interest rate, as well as the re-payment plan should fith 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 accborrower’s specific profile. Creditors should be held liable and be subject to appropriate penalties in case of a breach of the requirements surrounding the creditworthiness assessment. Consumers should have access to proportionate and effective remedies including compensation for damage suffered by the consumer. Those remedies should be withount the amount and the purposeprejudice to the application of othe credit, and the likelihood that the obligations resulting from the agreement will be metr remedies available to consumers under Union or national law.
Amendment 111 #
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 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, accuracy and quality, credit databases should as a minimum hold information on all of the consumers’ arrears in credit re-payment, in accordance with Union and national law. Only data needed for the assessment of creditworthiness - based on the EBA guidelines on loan origination and monitoring - should be collected in the databases. Compliance with these obligations should be regularly verified through audits by National Competent Authorities. __________________ 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 123 #
Proposal for a directive
Recital 76
Recital 76
(76) Assignment of the creditor's rights under a credit agreement or an agreement for the provision of crowdfunding credit services should not have the effect of placing the consumer in a less favourable position. The consumer should also be properly informed when the credit agreement or the agreement for the provision of crowdfunding credit services isCreditors should not be able to transfer credit contracts which can no longer be enforced or have no proven legal basis. The consumer should also be properly informed via a standard notification form no later than 48 hours after the conclusion of the contract formalising the assignedment to a third party. However, where the initial creditor, in agreement with the assignee, continues to service the credit vis-à-vis the consumer, the consumer has no significant interest in being informed of the assignment. Therefore, a requirement at Union level that the consumer be informed of the assignment in such cases would be excessive.
Amendment 172 #
Proposal for a directive
Article 7 – paragraph 2 (new)
Article 7 – paragraph 2 (new)
Advertising of credit agreements shall not be personalised. Only standardised offers may be advertised, without using any data relating to a user to tailor it to a specific time, circumstance or situation.
Amendment 176 #
Proposal for a directive
Article 8 – paragraph 1 – subparagraph 2
Article 8 – paragraph 1 – subparagraph 2
Amendment 180 #
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) a prominent, clearly visible warning to make consumers aware that borrowing costs money, using the words “warning: borrowing money costs money”. Powers are delegated to the European Commission to adopt and, where necessary, amend regulatory technical standards to stipulate the exact wording, presentation and format of the warning under Article 8 (g). Those regulatory technical standards shall be adopted in accordance with Articles 10to 14 of Regulation (EU) No 1093/2010. The European Banking Authority (EBA) shall develop draft regulatory technical standards to stipulate the exact wording, presentation and format of the warning under Article 8(g) for submission to the Commission by XX . EBA shall review, and if necessary, develop further draft regulatory technical standards for submission to the Commission for the first time by XX and every two years thereafter.
Amendment 182 #
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) In case of a consumer credit with a promotional zero percent interest rate for the first 30 days of the loan duration, any penalty charges due during that period if payments are not made on time and any changes to the interest rate after the 30- day promotional period ends.
Amendment 189 #
Proposal for a directive
Article 8 – paragraph 3 a (new)
Article 8 – paragraph 3 a (new)
3a. Powers are delegated to the European Commission to adopt and, where necessary amend, regulatory technical standards to stipulate the details of the content, format and presentation of the standard information to be included in advertising under Article 8. Those regulatory technical standards shall be adopted in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.TheEuropean Banking Authority (EBA) shall develop draft regulatory technical standards to stipulate the details of the content, format and presentation of the standard information to be included in advertising under Article 8 for submission to the Commission by XX. EBA shall review, and if necessary, develop further draft regulatory technical standards to stipulate the content, format and presentation of the standard information to be included in advertising under Article 8 for submission to the Commission for the first time by XX and every two years thereafter.
Amendment 224 #
Proposal for a directive
Article 10 – paragraph 7
Article 10 – paragraph 7
Amendment 239 #
Proposal for a directive
Article 12 – paragraph 2
Article 12 – paragraph 2
Amendment 249 #
Proposal for a directive
Article 14 – paragraph 2
Article 14 – paragraph 2
Amendment 252 #
Proposal for a directive
Article 14 – paragraph 3
Article 14 – paragraph 3
Amendment 257 #
Proposal for a directive
Article 14 – paragraph 4
Article 14 – paragraph 4
4. By derogation to paragraph 1, 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 261 #
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 266 #
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 servic intermediaries shall consider a sufficiently large number of credit agreements or crowdfunding credit services available on the market;
Amendment 268 #
Proposal for a directive
Article 16 – paragraph 4 – subparagraph 3
Article 16 – paragraph 4 – subparagraph 3
Amendment 270 #
Proposal for a directive
Article 16 – paragraph 4 – subparagraph 4
Article 16 – paragraph 4 – subparagraph 4
Member States may impose more stringent requirements for the use of the terms ‘independent advice’ or ‘independent advisor’ by creditors and, where applicable, credit intermediaries or providerprovision of advisory services of crowdfunding credit services.
Amendment 279 #
Proposal for a directive
Article 17 – paragraph 1
Article 17 – paragraph 1
Member States shall prohibit any offer of sale of credit to consumers, without their prior request and explicit agreement.
Amendment 285 #
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 thoroughhas made a positive 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 account of factors relevant to (i) 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 and(ii) the risk to the consumer of not being able to meet his/her obligations. 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 295 #
Proposal for a directive
Article 18 – paragraph 2 – subparagraph 1
Article 18 – paragraph 2 – subparagraph 1
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 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 necessary data and information that should be used to assess credit worthiness should be limited to: (a) recent payment account data; (b) up to date data on all outstanding credit and any arrears; (c) income and benefit data; (d) regular expenditure data; (e) information on any known expected changes in income during the duration of the credit (e.g. due to changes in a consumer’s employment situation); (f) information on any known expected changes with respect to expenditures during the duration of the credit; (g) if relevant, the household composition of the borrower and, if applicable, the payment accounts of the co-signatory of the consumer credit contract; Creditors, credit intermediaries or third parties acting on their behalf may not request, collect or process consumer information or data that are not related to the data listed above for the purposes of credit worthiness assessment. Moreover, the assessment must be based on sufficient information to adequately assess the consumer’s household budget, meaning that it cannot be based simply on a consumer’s credit history (information on past arrears and payment defaults).
Amendment 305 #
Proposal for a directive
Article 18 – paragraph 2 a (new)
Article 18 – paragraph 2 a (new)
2a. Powers are delegated to the European Commission to adopt and, where necessary amend, regulatory technical standards to stipulate the limits to the data to be assessed under paragraph 2 of Article 18. Those regulatory technical standards shall be adopted in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.The European Banking Authority (EBA) shall develop draft regulatory technical standards to stipulate the limits to the data to be assessed under paragraph 2of Article 18 for submission to the Commission by XX . EBA shall review, and if necessary, develop further draft regulatory technical standards to stipulate the format, presentation and limits to the data to be assessed under paragraph 2 of Article 18 for submission to the Commission for the first time by XX and every two years thereafter.
Amendment 314 #
Proposal for a directive
Article 18 – paragraph 4 – subparagraph 2
Article 18 – paragraph 4 – subparagraph 2
Amendment 329 #
Proposal for a directive
Article 18 – paragraph 9
Article 18 – paragraph 9
9. Member States whose legislation 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. However, the assessment must be based on sufficient information to adequately assess the consumer’s household budget, meaning that it cannot be based simply on a consumer’s credit history (information on past arrears and payment defaults).
Amendment 337 #
Proposal for a directive
Article 19 – paragraph 4
Article 19 – paragraph 4
4. Where the credit application is rejected on the basis of a consultation of a database referred to in paragraph 1, Member States shall require that the creditor or the provider of crowdfunding credit services informs the consumer immediately and free of charge of the result of such consultation and of the details of the database consulted. as well as the categories of data taken into account.
Amendment 348 #
Proposal for a directive
Article 24 – paragraph 1 – introductory part
Article 24 – paragraph 1 – introductory part
1. Where a credit has been granted in the form of an overdraft facility, Member States shall require that the creditor, throughout the duration of the credit agreement, keeps the consumer regularly informedinformed at least once a month by means of statements of account, on paper or on another durable medium, containing the following elements:
Amendment 351 #
Proposal for a directive
Article 24 – paragraph 2 – subparagraph 1
Article 24 – paragraph 2 – subparagraph 1
2. Where a credit has been granted in the form of an overdraft facility, Member States shall require that the creditor informs the consumer, on paper or another durable medium, of increases in the borrowing rate or in any charges payable, at least 2 working days before the change in question enters into force.
Amendment 354 #
Proposal for a directive
Article 25 – paragraph 2 – subparagraph 1 – introductory part
Article 25 – paragraph 2 – subparagraph 1 – introductory part
2. In the event of a significant overrunning exceeding a period of one monthtwo weeks, Member States shall require that the creditor informs the consumer without delay, on paper or on another durable medium, of all of the following:
Amendment 355 #
Proposal for a directive
Article 25 – paragraph 3 a (new)
Article 25 – paragraph 3 a (new)
3a. Any fees charged for overrunning shall not exceed 0.5% of the amount overrun by. Creditors should ensure that the consumer is informed of these fees in line with all relevant provisions of this Directive.
Amendment 368 #
Proposal for a directive
Article 27 – paragraph 1
Article 27 – paragraph 1
1. Member States shall ensure that the cooling-off period referred to in Article 26(7) is respected and that a consumer who has exercised the right of withdrawal under Article 26 or based on Union law, concerning a contract for the supply of goods or services she or he shall no longer be bound by a linked credit agreement.
Amendment 375 #
Proposal for a directive
Article 29 – paragraph 4 – point b
Article 29 – paragraph 4 – point b
(b) the creditor may exceptionally claim higher compensation if the creditor can prove that the loss suffered due to early repayment exceeds the amount determined in accordance with paragraph 2. However, this compensation should not exceed the amount of interest that the consumer would have paid during the period between the early repayment and the agreed date of termination of the credit agreement.
Amendment 378 #
Proposal for a directive
Article 30 – paragraph 2 – subparagraph 2 a (new)
Article 30 – paragraph 2 – subparagraph 2 a (new)
The annual percentage rate of charge must also take into account the costs and charges for any additional insurance or other financial products that are either sold with, recommended for sale with or proposed for sale with the credit product.
Amendment 383 #
Proposal for a directive
Article 31 – title
Article 31 – title
Caps on interest rates,the annual percentage rate of charge and the total cost of the credit to the consumer
Amendment 389 #
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 392 #
Proposal for a directive
Article 31 – paragraph 1 – point a
Article 31 – paragraph 1 – point a
Amendment 396 #
Proposal for a directive
Article 31 – paragraph 1 – point c
Article 31 – paragraph 1 – point c
Amendment 399 #
Proposal for a directive
Article 31 – paragraph 1 a (new)
Article 31 – paragraph 1 a (new)
1a. Powers are delegated to the European Commission to adopt and, where necessary amend, regulatory technical standards to stipulate the cap which the annual percentage rate of charge may not exceed. Those regulatory technical standards shall be adopted in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.The European Banking Authority (EBA) shall develop draft regulatory technical standards to stipulate the cap which the annual percentage rate of charge may not exceed for submission to the Commission by XX. EBA shall review, and if necessary, develop further draft regulatory technical standards to stipulate the cap which the annual percentage rate of charge may not exceed for submission to the Commission for the first time by XX and every two years thereafter.
Amendment 405 #
Proposal for a directive
Article 32 – paragraph 1 – point e a (new)
Article 32 – paragraph 1 – point e a (new)
(ea) promoting the sale of goods or services, covered by a linked credit agreement
Amendment 409 #
Proposal for a directive
Article 32 – paragraph 2 - subparagraph 1 a (new)
Article 32 – paragraph 2 - subparagraph 1 a (new)
Member States shall as a general rule, prohibit remuneration policies contingent upon the interest rate or cost of the credit, or the type of credit product subscribed.
Amendment 412 #
Proposal for a directive
Article 32 – paragraph 4
Article 32 – paragraph 4
4. Member States shall ensure that where creditors, credit intermediaries or providers of crowdfunding credit services provide advisory services the remuneration structure of the staff involved does not prejudice their ability to act in the consumer’s best interest and is not contingent on sales targets. In order to achieve that goal, Member States may also ban commissions or any other specific forms of compensation, monetary or not, contingent on the number or proportion of or accepted applications for credit paid by the creditor to the credit intermediary.
Amendment 421 #
Proposal for a directive
Article 34 – paragraph 1 – subparagraph 1
Article 34 – paragraph 1 – subparagraph 1
1. Member States shall promote measures that support the education of consumers in relation to responsible borrowing and debt management, in particular in relation to consumer credit agreements, and general knowledge about budget management. Clear and general information on the credit granting process shall be provided to consumers in order to guide them, in particular those who take out a consumer credit for the first time, and especially on digital tools. These measures shall be taken in cooperation with consumer organisations, namely those who provide debt support services. Member States shall also disseminate information regarding the guidance that consumer organisations and national authorities may provide to consumers. This paragraph shall not prevent Member States from providing for additional financial education.
Amendment 425 #
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, reasonable forbearance before enforcement proceedings are initiated. Such forbearance measures shall take into account, among other elements, the consumer’s circumstances and mayshall consist in, among othert least one or more of the following possibilities:,
Amendment 432 #
Proposal for a directive
Article 35 – paragraph 2
Article 35 – paragraph 2
Amendment 434 #
Proposal for a directive
Article 35 – paragraph 3
Article 35 – paragraph 3
3. Member States mayshall require that, where the creditor is permitted to define and impose charges on the consumer arising from a default, those charges are no greater than is necessary to compensate the creditor for costs it has incurred as a result of the default.
Amendment 438 #
Proposal for a directive
Article 35 – paragraph 4
Article 35 – paragraph 4
Amendment 442 #
Proposal for a directive
Article 36 – paragraph 1 a (new)
Article 36 – paragraph 1 a (new)
These debt advisory services shall be independent and free of charge to the consumer.
Amendment 446 #
Proposal for a directive
Article 36 – paragraph 1 a (new)
Article 36 – paragraph 1 a (new)
The organisations or individuals that provide these debt advice services shall be required to register through a simple procedure with the National Competent Authority.
Amendment 448 #
Proposal for a directive
Article 36 – paragraph 1 b (new)
Article 36 – paragraph 1 b (new)
Powers are delegated to the European Commission to adopt and, where necessary amend, regulatory technical standards to stipulate the practices to be used under paragraph 1 of Article 36 by debt advisors to ensure that consumers have access to high quality debt advice.
Amendment 449 #
Proposal for a directive
Article 36 – paragraph 1 c (new)
Article 36 – paragraph 1 c (new)
The European Banking Authority (EBA) shall develop draft regulatory technical standards to stipulate the practices to be used under paragraph 1 of Article 36 by debt advisors to ensure that consumers have access to high quality debt advice for submission to the Commission by XX. EBA shall review, and if necessary, develop further draft regulatory technical standards for submission to the Commission for the first time by XX and every two years thereafter.
Amendment 450 #
Proposal for a directive
Article 36 – paragraph 1 d (new)
Article 36 – paragraph 1 d (new)
Powers are delegated to the European Commission to adopt and, where necessary amend, regulatory technical standards to stipulate the minimum qualification requirements debt advisors should have to ensure that consumers have access to high quality debt advice.
Amendment 451 #
Proposal for a directive
Article 36 – paragraph 1 e (new)
Article 36 – paragraph 1 e (new)
The European Banking Authority (EBA) shall develop draft regulatory technical standards to stipulate the minimum qualifications of debt advisors to ensure that consumers have access to high quality debt advice for submission to the Commission by XX. EBA shall review, and if necessary, develop further draft regulatory technical standards for submission to the Commission for the first time by XX and every two years thereafter.
Amendment 452 #
Proposal for a directive
Article 36 a (new)
Article 36 a (new)
Amendment 458 #
Proposal for a directive
Article 39 – paragraph 1
Article 39 – paragraph 1
1. Member States shall ensure that the consumer, in the event of assignment to a third party of the creditor's rights under a credit agreement or an agreement for the provision of crowdfunding credit services, or of the agreement itself, is entitled to plead against the assignee any defence which was available to him or her against the original creditor, including set-off where such defence is permitted in the Member State concerned. Member States shall expressly prohibit the assignment of credit which can no longer be recovered in court or where the legal basis of the credit can no longer be demonstrated.
Amendment 459 #
Proposal for a directive
Article 39 – paragraph 2
Article 39 – paragraph 2
2. Member States shall require that the original creditor or the provider of crowdfunding credit services inform the consumer of the assignment referred to in paragraph 1, except where the original creditor, ,by agreement with the assignee, continues to service the credit vis-à-vis the consumer. Such information shall take the form of a formal notification to be provided no later than 48 hours after the conclusion of the contract formalising the assignment. The notification should be provided in writing, and indicate in a clear and comprehensive manner, all relevant information, including:(i) the identity and legal address of the creditor, (ii) the identity and legal address of the purchaser, (iii) where applicable, the identity and legal address of the credit servicer, (iv) the legal basis of the debt, including the possibility to access all documents that justify the amount due (contract, amortization schedule, etc.) (v) a break-down of the amount due in the form of an account balance (with the total amount due, including principal, interest, penalties, incidental expenses), (vi) the terms of payment of the debt; (vii) where applicable, the purchase price and information on the consumer’s buy-back right;(viii) the competent supervisory authority and procedure to follow in case of complaints. Powers should be delegated o the European Commission to adopt and, where necessary amend, regulatory technical standards to stipulate the format and presentation of the notification form in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010. The European Banking Authority (EBA) shall develop draft regulatory technical standards to stipulate the format and presentation of the notification form to be submitted to the Commission by XX and reviewed every two years thereafter.
Amendment 461 #
Proposal for a directive
Article 41 – paragraph 8 a (new)
Article 41 – paragraph 8 a (new)
8a. National Competent Authorities shall collect data on default rates of credit products sold under the scope of this Directive and report them to the EBA. The EBA shall provide an annual report to the Commission on these default rates, which shall: (a) be made publicly available on the websites of both the EBA and Commission; (b) analyse the default rates of credit products covered by this Directive by category and country;
Amendment 463 #
Proposal for a directive
Article 41 – paragraph 8 b (new)
Article 41 – paragraph 8 b (new)
8b. Member States may apply national legislation to grant product intervention powers to national competent authorities to withdraw products with a high default rate.