| CREDIT DATABASES AND SHARING - Expert Group selected by the Commission with the aim of identifying solutions that maximise the circulation of credit data within the EU. |
2 of ECRC’s active partners are represented in the Expert Group on Credit Histories. With only 3 consumer representatives and 2 data protection experts out of 20 experts, will they be able to ensure a high level of consumer protection in this area? Below the press release and the list of experts. We welcome these members to come to the conference in London to discuss the issues with us on 14 November during Workshop 9.
European Commission press release:
FINANCIAL SERVICES: COMMISSION NOMINATES MEMBERS OF EXPERT GROUP ON CREDIT HISTORIES
The European Commission has appointed the members of its Expert Group on Credit Histories (EGCH). The group is composed of experts in the field of credit data. The group's objective is to identify solutions that will maximise the circulation of credit data within the EU. The experts will present their report with recommendations by 1st May 2009.
Internal Market and Services Commissioner Charlie McCreevy said: "Financial institutions' access to credit data on their clients is key for the sound development of competitive financial markets. The availability of correct and complete credit data underpins financial stability and economic growth. It also leads to significant advantages for consumers. However, existing barriers to the access to credit data hamper the realisation of these benefits. I am confident that the expert group will come up with innovative solutions to address these obstacles."
Further to the call for applications published on 16th June 2008 (IP/08/944), the Commission has appointed 20 experts in the area of credit data. Their mission will be to identify barriers to the access to and exchange of credit data within the EU and to find solutions to overcome those obstacles. The selection of the experts has taken into account the need to achieve a balanced representation of the interest of all relevant stakeholders (consumer associations, financial industry and national authorities).
The first expert group meeting will be held on 26th September. The mandate of the experts will end with the completion of their report by 1st May 2009. The group will meet in Brussels and will be chaired by the Internal Market and Services DG of the European Commission.
BACKGROUND: CREDIT HISTORIES
The access to and availability of credit data is an important factor in promoting competitive retail financial services markets. Customers seeking to take out a loan with another institution - be it in the domestic market or cross-border - may face higher prices or be denied access to credit because of the lender's inability to access complete information on the consumer. This reduces customer mobility and choice. Inability to access complete credit data may also impede the ability of new (domestic or foreign) credit providers to compete for customers. As announced in the SINGLE MARKET REVIEW and the WHITE PAPER ON THE INTEGRATION OF EU MORTGAGE CREDIT MARKETS, the Commission therefore seeks to encourage the smooth flow of credit data, while taking into account the need for data protection.
LIST OF MEMBERS OF THE EXPERT GROUP ON CREDIT HISTORIES (EGCH)
AARNIO Reijo (Finnish Data Protection Office)
ASCENZO Maria Pia (Banca d'Italia)
BRADFORD Mike (ACCIS – Association of Consumer Credit Information Suppliers)
D'OTTAVIANO-CHIARAMONTI Gregorio (Findomestic Banca spa)
DUMINA Baiba (Latvian National Association for Consumer Protection)
HADLOW John (Fair Isaac Corporation)
JENTZSCH Nicola (personal capacity)
KRISPER Boštjan (ZPS – Slovene Consumer Association)
LLOYD Andy (Royal Bank of Scotland)
MARZEC Agnieszka (BIK – Polish Credit Information Bureau)
MEEL Frans (Union Professionnelle du Crédit)
METALLINOS Nathalie (Société Générale)
MIETKE Stephan (Association of German Banks)
MURAILLE Didier (Banque Nationale de Belgique)
NERBONNE Sophie (CNIL – Comité National de l'Informatique et des Libertés)
PAULI Frank-Christian (Verbraucherzentrale Bundesverband e.V.)
SANTILLÁN Ramón (Banco de España)
TELES DIAS Luís (Banco de Portugal)
TIGHEARNAIGH Séamus Ó (Irish Credit Bureau Ltd)
VAN LEEUWEN Sjaak (BKR – Dutch Credit Register) |
| ID: |
41850 |
| Author(s): |
iff |
| Publication date: |
10/09/08 |
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Created: 10/09/08. Last changed: 10/09/08.
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