BETA

77 Amendments of Anna CAVAZZINI related to 2021/0171(COD)

Amendment 125 #
Proposal for a directive
Recital 15 a (new)
(15 a) Offers for environmentally sustainable consumer loans are currently limited across the EU. In order to enable environmentally sustainable consumer spending such as the purchase of electric vehicles, or energy-efficient home renovations, in line with the EU Commission’s renewed Strategy on Sustainable Finance, creditors should be encouraged to offer as part of their portfolios affordable environmentally sustainable consumer credit products and develop corresponding policies. For this purpose, the European Banking Authority should, after consulting the Platform on Sustainable Finance, submit a report to the European Parliament, to the Council and to the Commission on environmentally sustainable consumer credit products, including a proposal for a standardisation of different types of environmentally sustainable consumer credit products. The Commission should take the report into account in its first evaluation of this Directive and, where appropriate, submit proposals to harmonise environmentally sustainable consumer lending practices and ensure ample availability and affordability of environmentally sustainable consumer credit products across the Union. Member States should set up qualitative and where relevant, quantitative targets to ensure the development of environmentally sustainable credit products.
2022/03/16
Committee: IMCO
Amendment 139 #
Proposal for a directive
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. 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, even 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, 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. Advertising should not incite over- indebted consumers to seek credit, highlight the ease or speed with which credit can be obtained, state that a promotion is conditional upon taking up credit, nor specify that other credit contracts have no influence on the assessment of a credit application, and these practices should therefore be prohibited. Advertising should not use profiling and should not be personalised.
2022/03/16
Committee: IMCO
Amendment 181 #
Proposal for a directive
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 negativeMember States may determine that in exceptional, and in specific and well justified circumstances, 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 loanseven when the assessment is negative for instance to fund exceptional healthcare expenses, or in case of students loans or loans for consumers with disabilities. In such cases, 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. The creditor’s decision and justification for granting the credit should be duly documented. Member States should ensure that in these exceptional cases consumers are equally protected from the risk of over-indebtedness and financial difficulties.
2022/03/16
Committee: IMCO
Amendment 234 #
Proposal for a directive
Article 2 – paragraph 1 – subparagraph 1
Articles 1, 2 and 3, Articles 5 to 10, Articles 12 to 23, Articles 26, 27 and 28, Articles 30 to 33, Article 37 and Articles 39 to 50 shall also apply to crowdfunding credit services where those services are not provided by a creditor or by a credit intermediary.
2022/03/16
Committee: IMCO
Amendment 246 #
Proposal for a directive
Article 2 – paragraph 2 – point h
(h) credit agreements where the consumer is requested to deposit an item as security in the creditor's safe-keeping and the liability of the consumer is strictly limited to that deposited item;deleted
2022/03/16
Committee: IMCO
Amendment 263 #
Proposal for a directive
Article 2 – paragraph 3 a (new)
3 a. Notwithstanding paragraph 2, Member states may determine that this Directive applies to credit agreements involving a total amount of credit of more than EUR 100 000.
2022/03/16
Committee: IMCO
Amendment 266 #
Proposal for a directive
Article 2 – paragraph 4
4. In the case of credit agreements in the form of overrunning, only Articles 1, 2 and 3, Article 25, and Articles25, 35, 36, 39, and 41 to 50 shall apply.
2022/03/16
Committee: IMCO
Amendment 283 #
Proposal for a directive
Article 3 – paragraph 1 – point 5
(5) ‘total cost of the credit to the consumer’ means all the costs, including interest, commissions, taxes and any other kind of fees which the consumer is required to pay in connection with the credit agreement or crowdfunding credit services and which are known to the creditor, in the case of credit agreements, or to the crowdfunding credit services provider, in the case of crowdfunding credit services, except for notarial costs; costs in respect of ancillary services relating to the credit agreement or crowdfunding credit services are also included in the total cost of the credit to the consumer where, in addition, the conclusion of a contract regarding such ancillary services is compulsory in order to obtain the credit or to obtain it on the terms and conditions marketed, except for notarial costs; costs in respect of ancillary services relating to the credit agreement or crowdfunding credit services which are sold simultaneously are also included in the total cost of the credit to the consumer;
2022/03/16
Committee: IMCO
Amendment 294 #
Proposal for a directive
Article 3 – paragraph 1 – point 22
(22) ‘early repayment’ means the full or partial discharge of the consumer’s obligations under a credit agreement or crowdfunding credit services, before the date for the final payment agreed in the credit agreement;;
2022/03/16
Committee: IMCO
Amendment 297 #
Proposal for a directive
Article 3 – paragraph 1 – point 25
(25) ‘debt advisory services’ means personalised assistance of a technical, legal or psychological nature provided by independent professional operators which are not creditors, credit intermediaries, providers of crowdfunding credit services or credit servicers as defined in Article 3, point (8) of Directive (EU) 2021/2167 in favour of consumers who experience or might experience difficulties in meeting their financial commitments;
2022/03/16
Committee: IMCO
Amendment 315 #
Proposal for a directive
Article 6 a (new)
Article 6 a Environmentally sustainable consumer credit products 1. Member States shall set up qualitative and where relevant, quantitative targets to support the development and the integrity of creditors’ environmentally sustainable lending activities. 2. Member States shall ensure that independent and impartial one-stop shop platforms are set up, available both physically and online, to provide independent technical advice, assistance and support to consumers on environmentally sustainable lending. Such platforms may be the same as those defined in the Article 21 of the Energy Efficiency Directive. 3. Creditors shall inform consumers about the existence of such platforms when presenting them with offers for environmentally sustainable credit products, before the conclusion of a credit agreement. 4. By 31 December 2023, EBA shall, after consulting the Platform on Sustainable Finance established under Article 20 of Regulation (EU) 2020/852, submit a report to the European Parliament, to the Council and to the Commission on environmentally sustainable consumer credit products. That report shall, at least, consider: (a) the types of environmentally sustainable consumer credit products and the contractual conditions currently offered for sale across the EU; (b) the availability and affordability of these products in different member states; (c) the current use of such products in different member states; (d) a proposal for a standardisation of different types of environmentally sustainable consumer credit products.
2022/03/16
Committee: IMCO
Amendment 321 #
Proposal for a directive
Article 7 – paragraph 1 – subparagraph 1 (new)
Advertising concerning credit agreements or crowdfunding credit services shall not be targeted to a natural person or a group of persons based on their behaviour, the tracking of their activities, profiling within the meaning of Article 4(4) of Regulation (EU)2016/679. Only standardised offers may be advertised.
2022/03/16
Committee: IMCO
Amendment 325 #
Proposal for a directive
Article 8 – paragraph 1 – introductory part
1. Member States shall require that advertising concerning credit agreements or crowdfunding credit services which indicates an interest rate or any figures relating to the cost of the credit to the consumer include standard information in accordance with this Article.
2022/03/16
Committee: IMCO
Amendment 327 #
Proposal for a directive
Article 8 – paragraph 1 – subparagraph 1
This obligation shall not apply where national law requires the indication of the annual percentage rate of charge in advertising concerning credit agreements or crowdfunding credit services which does not indicate an interest rate or any figures relating to any cost of credit to the consumer within the meaning of the first subparagraph.deleted
2022/03/16
Committee: IMCO
Amendment 330 #
Proposal for a directive
Article 8 – paragraph 2 – point a
(a) where applicable, the borrowing rate, fixed or variable or both, together with particulars of any charges included in the total cost of the credit to the consumer;
2022/03/16
Committee: IMCO
Amendment 331 #
Proposal for a directive
Article 8 – paragraph 2 – point c
(c) where applicable, the annual percentage rate of charge;
2022/03/16
Committee: IMCO
Amendment 333 #
Proposal for a directive
Article 8 – paragraph 2 – point f a (new)
(f a) information regarding possible consequences of missed payments, including any interest or charges applicable for late payments
2022/03/16
Committee: IMCO
Amendment 335 #
Proposal for a directive
Article 8 – paragraph 2 – point f b (new)
(f b) a prominent, clearly visible warning to make consumers aware that borrowing costs money.
2022/03/16
Committee: IMCO
Amendment 337 #
Proposal for a directive
Article 8 – paragraph 2 – subparagraph 1 a (new)
In all other cases, information listed in points (c), (f) and (h) shall be displayed prominently and in a bigger format than all other information. The Commission shall adopt a delegated act to define, and where necessary amend, regulatory technical standards to stipulating the format and presentation of the information contained in points (c), (f) and (h), 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 information contained in points (c), (f) and (h).
2022/03/16
Committee: IMCO
Amendment 339 #
Proposal for a directive
Article 8 – paragraph 3 a (new)
3 a. Member States shall prohibit advertising for consumer credit products which: (a) incites over-indebted consumers to seek credit; (b) highlights the ease or speed with which credit can be obtained; (c) states that a promotion is conditional upon taking up credit; (d) specifies that outstanding credit contracts have little or no influence on the assessment’ of a credit application; (e) suggests that success, social achievement or specific skills can be acquired thanks to credit agreements; (f) offer “grace periods” for the repayment of credit instalments of more than three months
2022/03/16
Committee: IMCO
Amendment 370 #
Proposal for a directive
Article 10 – paragraph 2
2. The pre-contractual information referred to in paragraph 1 shall be provided 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. In the process of providing pre-contractual information, special attention shall be given to the needs of persons with disabilities.
2022/03/16
Committee: IMCO
Amendment 400 #
Proposal for a directive
Article 10 – paragraph 3 – point n
(n) a warning regarding the consequencesand an explanation on the consequences, including the costs in the case of missing or late payments;
2022/03/16
Committee: IMCO
Amendment 403 #
Proposal for a directive
Article 10 – paragraph 3 – point p
(p) the existence of a right of withdrawal;deleted
2022/03/16
Committee: IMCO
Amendment 421 #
Proposal for a directive
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, shall provide the consumer with the Standard European Consumer Credit Overview form set out in Annex II, containing the following pre-contractual informationThe following pre-contractual information should be placed prominently at the beginning of the Standard European Consumer Credit Information form:
2022/03/16
Committee: IMCO
Amendment 427 #
Proposal for a directive
Article 10 – paragraph 4 – point c
(c) the borrowing rate, or all borrowing rates if different borrowing rates apply in different circumstances; particularly highlighting the highest possible cost of the credit in the worst case for the consumer;
2022/03/16
Committee: IMCO
Amendment 431 #
Proposal for a directive
Article 10 – paragraph 4 – point f
(f) costs a warning and explanations concerning the case of late paymenonsequences of missing or late payments including related costs;
2022/03/16
Committee: IMCO
Amendment 434 #
Proposal for a directive
Article 10 – paragraph 4 – point f a (new)
(f a) a comprehensive repayment schedule containing all payments and repayments over the lifetime of the contract, including those payments and repayments for any ancillary services relating to the credit agreement or crowdfunding credit services which are sold simultaneously, whereby payment and repayments, in case different borrowing rates apply in different circumstances, should be based on the worst possible scenario for the consumer;
2022/03/16
Committee: IMCO
Amendment 436 #
Proposal for a directive
Article 10 – paragraph 4 – point f b (new)
(f b) A note stating that, in accordance with Article 26, the consumer may withdraw from the credit agreement or the agreement for the provision of crowdfunding credit services without giving any reason within a period of 14 calendar days.
2022/03/16
Committee: IMCO
Amendment 451 #
Proposal for a directive
Article 10 – paragraph 5 – subparagraph 1
Any additional information which the creditor may provide to the consumer shall be clearly legible and 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.;
2022/03/16
Committee: IMCO
Amendment 452 #
Proposal for a directive
Article 10 – paragraph 5 a (new)
5 a. The European Banking Authority (EBA) shall develop draft regulatory technical standards that specify the format and presentation of the information contained in points (c), (f) and (h). EBA shall submit those draft regulatory technical standards to the Commission by XXX. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the third subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010. The European Banking Authority (EBA) shall develop draft regulatory technical standards to stipulate the format and presentation of the Standard European Consumer Credit Information form and in the Standard Consumer Credit Overview form to be submitted to the Commission by XX and reviewed every two years thereafter. Powers should be delegated to the European Commission to adopt and, where necessary amend, regulatory technical standards to stipulate the format and presentation of the Standard European Consumer Credit Information form and the Standard Consumer Credit Overview form in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.
2022/03/16
Committee: IMCO
Amendment 454 #
Proposal for a directive
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.deleted
2022/03/16
Committee: IMCO
Amendment 466 #
Proposal for a directive
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.
2022/03/16
Committee: IMCO
Amendment 468 #
Proposal for a directive
Article 10 – paragraph 10
10. This Article shall not apply to suppliers of goods or services acting as credit intermediaries in an ancillary capacity. This is without prejudice to the creditor, or where applicable, credit intermediary or provider of crowdfunding credit services’ obligation to ensure that the consumer receives the pre-contractual information referred to in this Article.deleted
2022/03/16
Committee: IMCO
Amendment 479 #
Proposal for a directive
Article 11 – paragraph 3
3. At the same time as the European Consumer Credit Information form is provided to the consumer, the creditor and, where applicable, the credit intermediary, shall provide the consumer with the Standard European Consumer Credit Overview form set out in Annex II.deleted
2022/03/16
Committee: IMCO
Amendment 481 #
Proposal for a directive
Article 11 – paragraph 4
4. Information displayed in the European Consumer Credit Information form and in the Standard 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.
2022/03/16
Committee: IMCO
Amendment 486 #
Proposal for a directive
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.
2022/03/16
Committee: IMCO
Amendment 498 #
Proposal for a directive
Article 12 – paragraph 2
2. Member States may adapt the requirement referred to in paragraph 1 with regard to the manner in which the explanations shall be given and the extent to which they shall be given to the following: (a) the circumstances of the situation in which the credit is offered; (b) the person to whom the credit is offered; (c) the nature of the credit offered.deleted
2022/03/16
Committee: IMCO
Amendment 500 #
Proposal for a directive
Article 13 – paragraph 1
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. Such personalised offer shall not be based on personal data other than financially related data as defined in Article 18 paragraph 2.
2022/03/16
Committee: IMCO
Amendment 511 #
Proposal for a directive
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, result in a clear benefit to the consumers taking due account of the availability and the prices of the relevant products offered on the market.deleted
2022/03/16
Committee: IMCO
Amendment 519 #
Proposal for a directive
Article 14 – paragraph 4
4. Member States may allow creditors or providers of crowdfunding credit services to require the consumer to hold a relevant insurance policy related to the credit agreement or crowdfunding credit services, taking into account proportionality considerations. In such cases, Member States shall ensure that the creditor or the provider of crowdfunding credit services is required to accept the insurance policy from a supplier different to his or her preferred supplier where such insurance policy has a level of guarantee equivalent to the one the creditor or the provider of crowdfunding credit services has proposed, without modifying the condition of the credit offering to the consumer. In addition, creditors or providers of crowdfunding credit services should not be permitted to offer a relevant insurance policy related to the credit agreement of crowdfunding credit services before a 7-day cooling off period in order to ensure that the consumer is able to compare offers.
2022/03/16
Committee: IMCO
Amendment 530 #
Proposal for a directive
Article 16 – paragraph 3 – point d
(d) act in the best interests of the consumer, with a view to minimising defaults and arrears;
2022/03/16
Committee: IMCO
Amendment 535 #
Point (b) of the second subparagraph shall apply only where the number of creditors considered is less than a majority of the market.deleted
2022/03/16
Committee: IMCO
Amendment 557 #
Proposal for a directive
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 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 is used to assess creditworthiness shall be limited to: (a) Evidence of identification; (b) Evidence of residence; (c) Where applicable, information on the purpose of the loan; (d) Where applicable, evidence of eligibility for the purposes of the loan; (e) Evidence of employment, including the type, sector, status (e.g. full-time, part- time, contractor, self-employed) and duration; (f) Evidence of income or other sources of repayment (including annual bonus, commission, overtime, where applicable) covering a reasonable period, including payslips, current bank account statements, and audited or professionally verified accounts (for self-employed persons); (g) Information on financial assets and liabilities, e.g. savings account statements and loan statements indicating outstanding loan balances; (h) Information on other financial commitments, such as child maintenance, education fees and alimonies, if relevant; (i) Information on household composition and dependants; (j) Evidence of tax status; (k) Where applicable, evidence of life insurance for the named borrowers; (l) Where applicable, data from credit registers or credit information bureaux or other relevant databases, covering the information on financial liabilities and arrears in payment; (m) Information on the collateral, if any; (n) Evidence of ownership of the collateral; (o) Evidence of the value of the collateral; (p) Evidence of insurance of the collateral; (q) Information on guarantees, other credit risk mitigating factors and guarantors, if any; (r) Rental agreement or evidence of potential rental income for buy-to-let loans, if any; (s) Permissions and cost estimates, if applicable, for real estate building and improvement loans; (t) The household general budget data of the borrower.
2022/03/16
Committee: IMCO
Amendment 566 #
Proposal for a directive
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. Personal data as referred to in Article 9(1) of Regulation (EU) 2016/679 shall not be used for the assessment.
2022/03/16
Committee: IMCO
Amendment 573 #
Proposal for a directive
Article 18 – paragraph 2 a (new)
2 a. Member States shall ensure that the creditworthiness assessment and corresponding re-payment plans are tailored to the borrower’s specific needs and repayment capacity.
2022/03/16
Committee: IMCO
Amendment 594 #
Proposal for a directive
Article 18 – paragraph 4 – subparagraph 1
Notwithstanding the first subparagraphs, Member States may determine that creditors or the providers of crowdfunding credit services may exceptionally make credit available to consumers in specific and well justified circumstances also where the result of the creditworthiness assessment indicates that the obligations resulting from the credit agreement or the agreement for the provision of crowdfunding credit services are not likely to be met in the manner required under that agreement, the creditor or the provider. In this case, Member States shall take complementing measures to ensure that the consumers’ level of cprowdfunding credit services may exceptionally make credit available to the consumer in specific and well justified circumstancestection against over-indebtedness or financial difficulties remains equivalent to the standards otherwise established in this directive.
2022/03/16
Committee: IMCO
Amendment 602 #
Proposal for a directive
Article 18 – paragraph 6 – introductory part
6. Where the creditworthiness assessment involves the use of profiling or other automated processing of personal data, Member States shall ensure that the creditor or provider of crowdfunding services informs the consumer of this fact, and that the consumer has the right to:
2022/03/16
Committee: IMCO
Amendment 610 #
Proposal for a directive
Article 18 – paragraph 6 – point b
(b) request and obtain from the creditor or the provider of crowdfunding credit services a clear explanation of the assessment of creditworthiness, including on i) the logic and risks involved in the automated processing of personal data as well as its significance and effects on the decision; ii) the categories of data processed as part of the assessment;
2022/03/16
Committee: IMCO
Amendment 618 #
Proposal for a directive
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 dataprovide justifications for the rejection on paper or another durable medium, and, where relevant, refer the consumer to debt advisory services available in the consumer’s area. Where applicable, the creditor or the provider of crowdfunding credit services is required to inform the consumer of the fact that the assessment of creditworthiness is based on automated processing of data and about the consumer’s right to a human intervention and the procedure to contest the decision.
2022/03/16
Committee: IMCO
Amendment 627 #
Proposal for a directive
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 shall not be based exclusively on a consumer’s credit history.
2022/03/16
Committee: IMCO
Amendment 630 #
Proposal for a directive
Article 18 – paragraph 9 a (new)
9 a. In the case of open-ended credit or crowdfunding credit services, the relevance of the initial creditworthiness assessment shall be assessed by the creditor or provider of crowdfunding credit services at least every two years. Due adjustments to the repayment schedule shall be made accordingly.
2022/03/16
Committee: IMCO
Amendment 640 #
Proposal for a directive
Article 19 – paragraph 4 a (new)
4 a. Member States shall ensure that efficient complaint procedures and out-of- court dispute resolution mechanisms are in place in order to facilitate consumers’ challenges to the content of databases, including information obtained through database searches by third parties.
2022/03/16
Committee: IMCO
Amendment 642 #
Proposal for a directive
Article 19 – paragraph 4 b (new)
4 b. Database providers shall have processes in place to ensure that information contained in their databases is up-to-date and accurate. Member States shall ensure that consumers are notified within thirty days of the registration of any negative credit data in a database, informing them of the possibility of exercising their right of access, rectification, erasure and opposition, in line with Regulation (EU) 2016/679 (GDPR).
2022/03/16
Committee: IMCO
Amendment 643 #
Proposal for a directive
Article 20 – paragraph 1
1. Member States shall require that 1. credit agreements or agreements for the provision of crowdfunding credit services are drawn up on paper or on another durable medium and that all the contracting parties are provided with a copy of the credit agreement or of the agreement for the provision of crowdfunding credit services. Copies of credit agreements provided to persons with disabilities shall be drawn up on a medium adapted to their specific abilities.
2022/03/16
Committee: IMCO
Amendment 657 #
Proposal for a directive
Article 23 – paragraph 2 – point d
(d) the information concerning the new reference rate is also available at the premises and on the website of the creditor or of the provider of crowdfunding credit services.
2022/03/16
Committee: IMCO
Amendment 659 #
Proposal for a directive
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 regularlyat least once per month informed by means of statements of account, on paper or on another durable medium, containing the following elements:
2022/03/16
Committee: IMCO
Amendment 662 #
Proposal for a directive
Article 24 – paragraph 2 – introductory part
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 two working days before the change in question enters into force.
2022/03/16
Committee: IMCO
Amendment 669 #
Proposal for a directive
Article 25 – paragraph 2 – 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:
2022/03/16
Committee: IMCO
Amendment 670 #
Proposal for a directive
Article 25 – paragraph 2 – subparagraph 1
In addition, in case of regular overrunning, the creditor shall offer to the consumer advisory services, where available and at no cost, or redirect consumers towards debt advisory services.
2022/03/16
Committee: IMCO
Amendment 699 #
Proposal for a directive
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.deleted
2022/03/16
Committee: IMCO
Amendment 708 #
Proposal for a directive
Article 31 – paragraph 1 – introductory part
1. Member States shall introduce caps on one or more of the following:: the annual percentage rate of charge, which may take into account the specificities of different consumer credit product
2022/03/16
Committee: IMCO
Amendment 712 #
Proposal for a directive
Article 31 – paragraph 1 – point a
(a) interest rates applicable to credit agreements or to crowdfunding credit services;deleted
2022/03/16
Committee: IMCO
Amendment 716 #
Proposal for a directive
Article 31 – paragraph 1 – point b
(b) the annual percentage rate of charge;deleted
2022/03/16
Committee: IMCO
Amendment 717 #
Proposal for a directive
Article 31 – paragraph 1 – point c
(c) the total cost of the credit to the consumer.deleted
2022/03/16
Committee: IMCO
Amendment 722 #
Proposal for a directive
Article 31 – paragraph 2 a (new)
2 a. Member States may introduce lower caps for environmentally sustainable consumer credit products.
2022/03/16
Committee: IMCO
Amendment 724 #
Proposal for a directive
Article 31 – paragraph 2 b (new)
2 b. By 31 December 2023, EBA shall submit a report to the European Parliament, to the Council and to the Commission on the implementation of the caps pursuant to paragraph 1 in the Member States. That report shall, at least, contain:(a) a comparison of the Member States’ methodologies to determine the size of the caps;(b) a comparison of the size of the caps across Member States;(c) an assessment of the effectiveness of the caps for the purpose of protecting consumers from excessive fees or charges;(d) based on the assessment in (c), a best practice approach for determining the size of caps.
2022/03/16
Committee: IMCO
Amendment 725 #
Proposal for a directive
Article 32 – paragraph 1 – introductory part
1. Member States shall require that the creditor, the credit intermediary and the provider of crowdfunding credit services act honestly, responsibly, fairly, transparently and professionally and take account of the rights and interests of the consumers when carrying out any of the following activities:
2022/03/16
Committee: IMCO
Amendment 733 #
Proposal for a directive
Article 33 – paragraph 1
1. Member States shall ensure that creditors, credit intermediaries and providers of crowdfunding credit services require their staff to possess and keep up- to-date an appropriate level of knowledge and competence in relation to the manufacturing, the offering and the granting of credit agreements or crowdfunding credit services, the carrying out of credit intermediation activities, the provision of advisory services or crowdfunding credit services and consumer rights in the area of their trade. Where the conclusion of a credit agreement or an agreement for the provision of crowdfunding credit services includes an ancillary service, appropriate knowledge and competence in relation to that ancillary service shall be required.
2022/03/16
Committee: IMCO
Amendment 737 #
Proposal for a directive
Article 33 – paragraph 2
2. Member States shall establish minimum knowledge and competence requirements for the staff of creditors, of credit intermediaries and of providers of crowdfunding credit services, including on environmentally sustainable lending, where relevant.
2022/03/16
Committee: IMCO
Amendment 745 #
Proposal for a directive
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 be tailored to the consumer’s individual circumstances and take into account, among other elements, the consumer’s circumstances and mayshall consist in, among other at least one or more of the following possibilities:
2022/03/16
Committee: IMCO
Amendment 747 #
Proposal for a directive
Article 35 – paragraph 1 – point b – point iv
(iv) changreducing the interest rate;
2022/03/16
Committee: IMCO
Amendment 749 #
Proposal for a directive
Article 35 – paragraph 2
2. The list of potential measures in paragraph 1, point (b), is without prejudice to rules set out in national law and does not require Member States to provide for all of those measuresadditional measures set out in national law.;
2022/03/16
Committee: IMCO
Amendment 750 #
Proposal for a directive
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.
2022/03/16
Committee: IMCO
Amendment 753 #
Proposal for a directive
Article 36 – paragraph 1
Member States shall ensure that debt advisory services are made available to consumers free of charge and rendered by staff that is not in a situation of conflict of interest.
2022/03/16
Committee: IMCO
Amendment 773 #
Proposal for a directive
Article 39 – paragraph 1 a (new)
1 a. The 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, shall require the explicit consent of the consumer.
2022/03/16
Committee: IMCO
Amendment 781 #
Proposal for a directive
Article 41 a (new)
Article 41 a Data collection National competent authorities of each Member State shall collect monthly default rates associated with different types of consumer credit products relevant to the scope of this Directive and report that data to the EBA in a standard reporting format. The draft typology of the consumer credit products as well as the technical reporting standard shall be developed by the EBA. The EBA shall provide an annual, comprehensive report to the Commission on these default rates and make it publicly available.
2022/03/16
Committee: IMCO
Amendment 795 #
Proposal for a directive
Article 46 – paragraph 1 a (new)
1 a. The evaluation shall take into account the report referred to in Article 6a(4). The Commission shall assess, and where appropriate, submit proposals to harmonise environmentally sustainable consumer lending practices and ensure ample availability and affordability of environmentally sustainable consumer credit products across the Union.
2022/03/16
Committee: IMCO