15 Amendments of Frances FITZGERALD related to 2018/0063A(COD)
Amendment 223 #
Proposal for a directive
Recital 9
Recital 9
(9) This Directive should foster the development of secondary markets for NPLs in the Union by removing impediments to the transfer of NPLs by credit institutions to non-credit institutions, while at the same time ensuring a high level of consumer protection and safeguarding consumers' rights. Any proposed measure should also simplify and harmonise the authorisation requirements for credit servicers. This Directive should therefore establish a Union-wide framework for both purchasers and servicers of credit agreements issued by credit institutions.
Amendment 239 #
Proposal for a directive
Recital 18
Recital 18
(18) The importance placed by the Union legislature on the protection provided for consumers in Directive 2014/17/EU of the European Parliament and of the Council29 , Directive 2008/48/EC of the European Parliament and of the Council30 and Council Directive 93/13/EEC31 means that the assignment of the creditor's rights under a credit agreement or of the agreement itself to a credit purchaser should not affect the level of protection granted by Union law to consumers in any way. CMember States should ensure that credit purchasers and credit servicers should therefore comply with Union law as applicable to the initial credit agreement and Member States should ensure that the consumer should retain the same level of protection as provided under Union law or as determined by Union or national conflict of law rules regardless of the law applicable to the credit purchaser or credit servicer. This Directive should not restrict Member States in applying stricter consumer protection provisions to credit servicers or credit purchasers. _________________ 29Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on credit agreements for consumers relating to residential immovable property and amending Directives 2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010 (OJ L 60, 28.2.2014, p. 34). 30Directive 2008/48/EC of the European Parliament and of the Council of 23 April 2008 on credit agreements for consumers and repealing Council Directive 87/102/EEC (OJ L 60/34, 22.5.2008, p. 66). 31Council Directive 93/13/EEC of 5 April 1993 on unfair terms in consumer contracts (OJ L 95, 21.4.1993, p. 29).
Amendment 248 #
Proposal for a directive
Recital 24 a (new)
Recital 24 a (new)
(24a) Credit purchasers should also be subject to authorisation to provide credit servicing activities throughout the Union to ensure that those who hold a legal title to credit granted under the credit agreement are regulated by the competent authorities and are subject to a uniform and harmonised set of conditions that should be applied in a proportionate manner by the competent authorities. The conditions for granting and maintaining an authorisation for a credit purchaser should be the same as those for a credit servicer. Credit purchasers should be obliged to act fairly and with due consideration for the financial situation of the borrowers. Where debt advice services facilitating debt repayment are available at national level, the credit purchasers should consider referring borrowers to such services.
Amendment 249 #
Proposal for a directive
Recital 25
Recital 25
(25) To avoid lengthy procedures and uncertainty, it is necessary to establish requirements regarding the information applicants are required to submit, as well as the reasonable deadlines for the issue of an authorisation and the circumstances for its withdrawal of authorisation. Where authorities withdraw an authorisation of a credit servicer or a credit purchaser which provides credit servicing activities in other Member States, competent authorities in the host Member State should be informed. Equally, an up- to-date online public register should be established in each Member State to ensure transparency as regards the number and identity of authorised credit servicers and credit purchasers.
Amendment 310 #
Proposal for a directive
Title 2 – chapter 1 – title
Title 2 – chapter 1 – title
Authorisation of credit servicers and credit purchasers
Amendment 312 #
Proposal for a directive
Article 4 – paragraph 1 a (new)
Article 4 – paragraph 1 a (new)
1a. Member States shall require a credit purchaser to obtain an authorisation in a home Member State before commencing its activities within its territory in accordance with the requirements set out in the national provisions transposing this Directive.
Amendment 313 #
Proposal for a directive
Article 5 – paragraph 1 – introductory part
Article 5 – paragraph 1 – introductory part
1. Member States shall lay down the following requirements for the granting of an authorisation as referred to in Article 4(1) and Article 4(1a):
Amendment 334 #
Proposal for a directive
Article 6 – paragraph 1
Article 6 – paragraph 1
1. Member States shall establish a procedure for the authorisation of credit servicers and credit purchasers which enables an applicant to submit an application and provide all the information necessary for the competent authority of the home Member State to verify that the applicant has satisfied all the conditions laid down in the national measures transposing Article 5(1).
Amendment 340 #
Proposal for a directive
Article 7 – paragraph 1 – introductory part
Article 7 – paragraph 1 – introductory part
1. Member States shall ensure that the competent authorities of the home Member State may withdraw the authorisation granted to a credit servicer or a credit purchaser, where such a credit servicer or a credit purchaser either:
Amendment 345 #
Proposal for a directive
Article 7 – paragraph 2
Article 7 – paragraph 2
2. Where an authorisation is withdrawn in accordance with paragraph 1, Member States shall ensure that the competent authorities of the home Member State shall immediately inform the competent authorities in the host Member States if the credit servicer or credit purchaser provides services under Article 11.
Amendment 347 #
Proposal for a directive
Article 8 – paragraph 1
Article 8 – paragraph 1
1. Member States shall ensure that competent authorities establish and maintain a national register of all authorised credit servicers and credit purchasers authorised to provide services within their territory, including credit servicers providing services under Article 11.
Amendment 405 #
Amendment 417 #
Proposal for a directive
Article 20 – paragraph 1
Article 20 – paragraph 1
1. Member States shall ensure that credit servicers, credit purchasers and, where applicable, credit service providers to whom activities have been outsourced in accordance with Article 10, comply with the national provisions transposing this Directive on an on-going basis and shall ensure that those activities are subject to adequate supervision by the competent authorities of the home Member State in order to assess such compliance.
Amendment 418 #
Proposal for a directive
Article 20 – paragraph 2
Article 20 – paragraph 2
Amendment 430 #
Proposal for a directive
Article 22 – paragraph 1 – point c
Article 22 – paragraph 1 – point c
(c) a credit servicer or a credit purchaser's policy is inadequate for the proper treatment of borrowers as set in Article 5(1)(d);