Seminars

The provision of increasing amounts of new and innovative financial products as well as the expansion of access to credit and financial services is expected to prove beneficial to European consumers. However, the lack of financial education and literacy paired with insufficient information and advice may cause consumers to take unreasonable transaction decisions, potentially leading to financial difficulties and over-indebtedness.

High level speakers, ranging from policy and law makers to representatives from consumer and industry groups as well as national representatives to the Council on the Draft consumer credit directive and Karel Lannoo, CEPS CEO discuss on the different aspects related to the integration of retail financial markets in the EU and the currently interesting example drawn by the consumer credit directive.

An increasing part of consumer credit in Europe is now being provided at the point of sale. This practice has important implications for the future development of consumer credit in the European Union and poses major challenges to policy-makers responsible for EU regulatory policy in this area.

The objective of this ECRI seminar was to refocus the debate on consumer protection in financial services, with special attention to the foreseen revision of the Consumer credit Directive.