Press Release: Consumer credit: Commission adopts revised proposal to facilitate agreement

The European Commission on 10 October 2005 adopted a revised proposal for a Directive on consumer credit which aimed to level up the rights enjoyed by consumers across the EU, within a genuine single market for such services. The modified proposal was intended to take into account the European Parliament's positions as expressed in its first reading and to facilitate agreement between Parliament and Council. Key changes to the Commission's first amended proposal of October 2004 included a focus on real consumer credit (up to €50,000) with mortgage credit to be addressed separately.

• Primary Source

http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/05/361&format=HTML&aged=0&language=EN&guiLanguage=en http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/05/361&format=HTML&aged=0&language=EN&guiLanguage=en

European Commission: PreLex: COM(2005) 483, Modified proposal for a Directive [...] on credit agreements for consumers amending Council Directive 93/13/EC [Consumer Credit Directive] http://ec.europa.eu/prelex/detail_dossier.cfm?CL=en&ReqId=0&DocType=COM&DocYear=2005&DocNum=0483

---