Responsible Credit/Principles
| 29/03/16 |
Australia: ASIC Releases Guidance for P2P lending market. The information sheet is an example of how regulators can help innovative start-ups understand the regulatory framework they... |
The Australian Securities and Investments Commission (ASIC) today announced the release of an information sheet, containing guidance and best practices to be followed by Australian peer-to-peer lenders. The regulator revealed that a number of marketplace lending entities were consulted in preparing the document. The information sheet describes what peer-to-peer lending is... [more...]
| 17/07/15 |
UN conference on Trade and Development Drafts new Principles on Consumer Protection especially in Financial Services |
The UNCTAD has revised its consumer protection guidelines especially with regard to financial services that until now had been omitted. The USA has called this premature since OECD and G20 are working on the same issues. The Draft is based on a survey in 2014 of UNCTAD with member countries in which only a few have participated. The new draft of the principles is in... [more...]
| 13/10/14 |
Bank supervisors get interested in responsible credit – FinCoNet publishes its report on responsible lending |
A worldwide association of bank supervisors have published a report on responsible lending. The report covers European countries like Germany and France but not the UK and most of the other EU states. But it also covers also China, Japan, Singapore, South Africa, Australia and Uganda. The USA and South America do not show up. Although this is a quite arbitrary selection... [more...]
| 21/07/14 |
Interest and Money – Usury and Anatocism – Some basic Q&A about Responsible Credit (to myself) |
Have you ever considered a world without interest? Aristotle said interest is theft, in which case bankers must be criminals. Civil law refers to interest as the usus fructus of “money”, a “fruit” in the same way that the labour of the slave was his usus fructus and apples are the usus fructus of the tree. But ancient philosophers, the Christian church and Islam are... [more...]
| 16/07/14 |
1,270% APRC - the new UK usury rate ceiling? |
In the UK consumers can still pay extortionate rates of interestwithout being able to blame the banks. So-called ‘payday loans’ in the UK are marketed as an alternative to more affordable overdraft credit. They are extended to people who struggle to make it to the end of the month and their next wages. This liquidity problem is exploited by the banks. But the banks at... [more...]
| 20/03/14 |
Principles of Responsible Credit – Conference and booklet in Lithuania |
ECRC representatives will attend a conference in the Lithuanian Parliament organised by Lithuanian ECRC partner LBCA. The Lithuanian Bank Customers Association has translated the ECRC principles into Lithuanian (the full version). This version has now been added to translations available of the principles on the ECRC website:... [more...]
| 10/03/14 |
Consumers International: Report identifies dimensions of responsible lending and makes Recommendations. Welcome report from the user side, but it makes no reference to our principles of... |
We welcome this study but hope that Consumers International (CI) will seek to incorporate the insights of the ECRC coalition with its emphasis on responsible credit. Our principles also stress that all lenders should seek to ensure that borrowers can repay their debts without suffering hardship and that the financial service sold is appropriate to the borrower’s needs and... [more...]
| 07/03/14 |
IRELAND and ECRC: A major report from ECRC partner FLAC stresses the need for responsible credit. It says consumers need proper legal protections as the report on Consumers of financial... |
IRELAND and ECRC: A major report from ECRC partner FLAC says consumers need proper legal protections as a Report on Consumers of financial services shows they are being badly let down by the system. ECRC partner from Ireland, Free Legal Advice Centres (FLAC) has produced a comprehensive report outlining how consumers are entitled to a high level of legal protection as a... [more...]
| 31/01/13 |
Update on recent adopted laws in Portugal: ECRC partner from Portugal gives an update of latest laws on responsible lending, mortgages and default, Minimum banking services. |
PT – Responsible lending Package Decree-law nr. 226/2012 of 18 October and Decree-law nr. 227/2012 of 25 October constitutes the legislative package that aims to combat situations of over-indebtedness and tackle the escalation of non-compliance consumer credit that have been experiencing in recent years given the difficult economic climate that has affected the country.... [more...]
| 19/09/12 |
Responsible Credit - A basic principle in the five principles on consumer protection of the International Law Association |
The Committee on International Protection of Consumers, from the International Law Association (London) an Association founded in 1873 together with the Institut de Droit International, Paris developed with its. Sofia Declaration five basic international principles on consumer protection: 1.Principle of vulnerability 2.Principle of the most favorable protection 3.Principle... [more...]
| 27/01/12 |
Transposition of the CCD in France has led to new rules on professional standards for those selling consumer credit |
The news below, in French, concerns the updates that professionals “selling” consumer credits should follow to be considered respecting the Consumer code. In a nutshell, it is about different types of credit, legislation, rights and duties of the borrower and the intermediates, reasons of over indebtedness and prevention. Crédit à la consommation proposé sur le lieu de... [more...]
| 27/01/12 |
Formation obligatoire pour les pourvoyeurs de crédit à la consommation |
Crédit à la consommation proposé sur le lieu de vente ou à distance : formation obligatoire La loi n° 2010-737 du 1er juillet 2010 portant réforme du crédit à la consommation a renforcé la protection du consommateur et les obligations à la charge des prêteurs et des intermédiaires en matière de crédit à la consommation. Elle prévoit que, dans le cas où un crédit à la... [more...]
| 01/03/11 |
CSR: Report by CfRC gives an overview of existing standards in bank CSR reporting with respect to responsible lending and the ECRC Principels of responsible credit |
Raising the standard of bank CSR reporting With financial support from the Citi Foundation, the UK Centre for Responsible Credit together with the institute for financial services (iff) conducted a study of CSR reports issued by twelve major retail banking operations in the UK, France, Spain and Germany (HSBC, Santander, Credit Agricole, Barclays, BBVA, Royal Bank of ... [more...]
Testdaten hier klicken Testüberschrift 10,- € sind viel Geld. dkjfkld ä üöüö ,- Testbeitrag Dies wird jetzt ein Testbeitrag Mal sehen, was OO daraus macht. zweite überschrift und wieder ein "Absatz" mal öü ß ob oder- nicht Dies wird „jetzt ein Test“ Warum „klappt das nu“? [more...]
| 05/01/11 |
2011: Bei „Altfällen“ droht Anlegern endgültiges Verjährungsaus! |
Zur Frage der Verjährung von Ansprüchen falsch beratener Kapitalanleger erreichte uns ein Schreiben von Rechtanwalt Ahr aus Bremen, aus dem wir auszugsweise zitieren: Die Schäden und Verluste in Folge der Finanzkrise hatten die schlechte Qualität der Arbeit vor allem auch von Bankberatern in diesem Bereich offenbart... Zwar wurde die Verjährungsfrist verlängert; zwar... [more...]
| 01/01/11 |
Neue Banken Kodex in Deutschland: Verantwortungsvolle Kreditvergabe für Verbraucher |
Die 10 Prinzipien verantwortlicher Kreditvergabe des Bankenfachverbandes für Verbraucherkredite sind in den Prinzipien 1 – 4 und 6 eine Wiederholung des Gesetzes. Der darüberhinausgehende Teil enthält eher kurze Bekenntnisse zur Behandlung von Kunden und Öffentlichkeit aber keine umsetzbaren Sebstverpflichtungen. Verantwortungsvolle Kreditvergabe für Verbraucher ... [more...]
| 26/07/10 |
BRAZIL – Promoting Responsible Credit - Lançamento da cartilha eletrônica "Crédito responsável" |
Prezado associado e amigo do Brasilcon, Tenho a satisfação de informar o lançamento da cartilha eletrônica "Crédito Responsável", que procura explicar, de modo claro e objetivo, sobre os riscos do superendividamento. O documento, que será encaminhado para todos os PROCONS e entidades civis de defesa do consumidor, pode ser incluído em páginas da internet pelos... [more...]
| 17/03/10 |
Credit card reform in the UK: 5 new rights for credit card borrowers and more detail on forthcoming irresponsible lending guidance |
Government sets out next steps on credit card practices and responsible lending Government has set out details of the next steps it will be taking to make lending practice more responsible, including five new 'rights' for credit card borrowers, and more detail of the likely content of the OFT's forthcoming irresponsible lending guidance. The next steps are: Credit card... [more...]
| 01/01/10 |
NEU: Verbraucherdarlehensrecht Umsetzung der Verbraucherkreditrichtlinie im BGB: Auswirkungen auf die Bankpraxis |
NEU: Verbraucherdarlehensrecht Umsetzung der Verbraucherkreditrichtlinie im BGB: Auswirkungen auf die Bankpraxis. I. Einleitung Am 03.08.2009 wurde das „Gesetz zur Umsetzung derVerbraucherkreditrichtline" im Bundesgesetzblatt veröffentlicht. Damit folgt der Gesetzgeber den Vorgaben der durch die EU-Richtlinie 2008/48/EG des Europäischen Parlaments und des Rates vom... [more...]
| 02/12/09 |
NEW Centre for Responsible Credit is created in the UK! It's first activity is a call for 'Five Ways to Improve the UK Financial Services Bill' |
The creation of this Centre is good news for research in the UK. Here attached is the Centre’s first briefing for MPs on the UK Financial Services Bill which is now before Parliament in the name of Centre for Responsible Credit. Please read the attachment below “Five Ways to Improve the Financial Services Bill” -------- About the Centre for Responsible Credit Background... [more...]
| 09/11/09 |
Australia is moving in Consumer Credit |
From the latest newsletter of the International Association of Consumer Law November 2009, Vol. 2, issue 2 (www.iaclaw.org) edited by Christine Riefa, Brunel Law School, UK we learn about the efforts made in Australia to harmonise consumer credit law and introduce more effective elements, amove which follows the centralisation of consumer credit law in the US through the... [more...]
| 08/10/09 |
Obama fights for an independent Consumer Protection Agency on Financial Services. In Europe instead the Slogan Safety first puts Soundness and Consumer Protection on second rank. We... |
http://fairrecovery.org/whyfairrecovery/specialissues.html For a comment in German see German page on verantwortliche-kreditvergabe.net or click from sister websites The Consumer Financial Protection Agency – a key to safe and sound access to credit by Gregory D. Squires Of the many factors that have made the United States the world’s premier capital marketplace for 80... [more...]
| 08/10/09 |
Obama kämpft für eine selbständige Verbraucherschutzbehörde gegenüber Kreditgebern - die Koalition in Deutschland will dagegen nur die Investorensicherheit durch die Bundesbank ausüben... |
Die neue US Verbraucherschutzbehörde bei Finanzdienstleistungen – Es lohnt sich, die amerikanischen Argumente zur Kenntnis zu nehmen. Die Regierungskoalition möchte die BAFIN entmachten und der Bundesbank die Aufsicht übertragen. Angesichts der Macht- und Personalfülle der Bundesbank, die 20 mal mehr Personal hat und großes Ansehen genießt, kann man diesem Schritt zur... [more...]
| 30/09/09 |
Anglo-Saxon countries rediscover consumer credit regulation through interest rate restrictions - Payday lending is being targeted in South Australia in an amendment bill 2009. |
Below is the text from the South Australian Payday Lending Bill which was raised a few months ago. There is a similar Bill in the pipeline in Western Australia. Three Australian States and ACT have already imposed payday lender interest rate restrictions, with the above two States having Bills in the pipeline. This reassessment of existing non-regulation has also been... [more...]
| 24/09/09 |
G20 - Global Coalition renews its call for banks ‘worth saving’ / Rappel vers les leaders du G20 à créer un système financier qui mérite d’être sauvé |
At the occasion of the G20 summit in Pittsburgh, the ECRC renews its call for banks ‘worth saving’ (which it issued at the previous London G20 Summit in April 2009) and reminds coalition partners of its critique of the more recent G20 Declaration “12 measures for a socially useful financial system” led by alternative banks. ----- [en français, voir ci-dessous] Global... [more...]
| 18/09/09 |
A new Pittsburgh G20 Declaration in the Making by some coalition partners - ECRC prefers to concentrate on its Principles of responsible credit and will reissue its previous April... |
G20 Summit on Incentives, Investments and Institutions There has been an extensive discussion among members of the Coalition for Responsible Credit and Community Reinvestment concerning a paper promoted especially by INAISE, the organisation of alternative and ethical banks in Europe for the upcoming G20 summit. A number of Coalition members have already signed this... [more...]
| 04/09/09 |
Report from the Responsible Lending Hearing in Brussels in Spetember 2009 |
Report from the Responsible Lending Hearing organised by DG Markt in Brussels on Thursday 3 September 2009. ECRC summary The Commission services should be praised for having held such a consultation on such a subject of great interest to the members of our coalition. The ECRC has been organising conferences with the very aim of discussing such issues of responsible credit... [more...]
| 31/08/09 |
Crédit responsable – L'INC, le partenaire francais de la Coalition a répondu à la consultation de la Commission européenne |
Ci dessous, la réponse à la consultation que l'INC vient à l'instant d'envoyer à la Commission. Il est précisé en introduction que l'INC est membre de l'ECRC et il est indiqué le lien qui renvoie à la réponse globale de la coalition. Merci l'Institut National de la Consommation. à suivre... [more...]
| 28/08/09 |
Responsible Lending or Responsible Borrowing - Who is to blame for the financial crisis? In their response to the hearing ECRC censures the idea of solving the crisis at the expense of... |
Public Consultation on Responsible Lending and Borrowing in the EU August 10, 2009 1. Question 3 In your view, are there certain (categories of) credit products that are inherently unsuitable for sale to retail borrowers? In our Subprime Declaration from 30 June 2008 ECRC supported by many signatures from its coalition partners had already pointed to a number of... [more...]
| 27/08/09 |
Verantwortliche Kreditvergabe oder Verantwortliche Kreditaufnahme - Wer ist Schuld an der Krise? ECRC verwahrt sich in seiner Stellungnahme zum Hearing der EU-Kommission gegen eine... |
Öffentliche Anhörung der EU-Kommission zur verantwortlichen Kreditvergabe und Kreditaufnahme (unter den Links) Die Europäische Kommission (Generaldirektion Binnenmarkt) veranstaltet am 3. September 2009 ein öffentliches Hearing zum Thema "Verantwortliche Kreditvergabe und verantwortliche Kreditaufnahme". Hierzu hat sie in Englisch 15 Fragen gestellt, die von vielen... [more...]
| 20/08/09 |
Crédit responsable – La Commission européenne ouvre sa Consultation. |
Chers amis et collègues, La coalition a aujourd'hui donnée une réponse à la consultation de la Commission. Ensemble nous avons essayé de leurs faire comprendre que c'est le crédit responsable qui est important et non toutes les questions au tour de l'intermédiation financière des intermédiares.. Ci-dessous notre réponse ainsi que le texte de la consultation organisée... [more...]
| 20/08/09 |
Responsible Lending and Responsible Borrowing - EU launches a Public Consultation for September 3, 2009 - ECRC discusses reaction, first responses of ECRC partners available here |
1. EU-Commission on Responsible Lending and Responsible Borrowing EUROPEAN COMMISSION Internal Market and Services DG FINANCIAL INSTITUTIONS Retail issues, consumer policy and payment systems Brussels, 15 June 2009 PUBLIC CONSULTATION ON RESPONSIBLE LENDING AND BORROWING IN THE EU (see link at the bottom) "Responsible lending" means that credit products are appropriate... [more...]
| 19/08/09 |
EU Consultation - Responsible Lending and Responsible Borrowing. ECRC has contributed a statement, while partners respond with more concrete examples to the Commission questions. |
PUBLIC CONSULTATION ON RESPONSIBLE LENDING AND BORROWING IN THE EU (see links below) The European Coalition for Responsible Credit has today contributed the following to the European Commission’s consultation on Responsible Lending. We hope that it will help to readjust the Commission services’ appreciation and understanding of the key issue of responsible credit. See... [more...]
| 31/07/09 |
UK LENDING RULES – The OFT has published its Report on “Irresponsible Lending” to serve as a guidance for all creditors. Many aspects of the ECRC Responsible Credit principles feature... |
The European Coalition for Responsible Credit has been promoting events and sharing research and suggestions for more sustainable financial services and fair finance for a number of years. Conversations at seminars and exchange of views at our national and international stakeholder conferences help those interested in developing forms of best practice. Our 7 Principles of... [more...]
| 09/07/09 |
RESPONSIBLE LENDING – ECRC partner Altroconsumo has already responded to the European Commission consultation on Responsible lending |
(open til end August) See Altroconsumo's comments. Please send us yours so that we can include them in our ECRC repsonse over the coming weeks. See links below. [more...]
| 17/06/09 |
More and more bodies are putting forward principles and other suggestions for Responsible lending etc.. these need to be matched up to our own Principles. |
The ECRC and its partners have developed basic rules or principles in several related areas. Below are some principles from other sources etc... [more...]
| 16/06/09 |
Verantwortliche Kreditvergabe – Konsultationsprozess der EU-Kommission eingeleitet |
Die EU-Kommission hat sich dem ECRC Thema "Verantwortliche Kreditvergabe" zugewandt. Bis Ende August sind öffentliche Stellungnahmen eingefordert. Der Fragenkatalog, so zeigt bereits der erste Blick, ist schon die wichtigste Antwort, weil er das Problem letztlich auf das Thema "Verantwortliche Kreditaufnahme" verkürzt. Kreditunwürdige Verbraucher, ungebildete Verbraucher... [more...]
| 16/06/09 |
Credito responsabile – La Commissione europea ha aperto la sua consultazione. |
ECRC è quello di formulare la sua risposta alle domande della Commissione. Questa estate, durante le prossime settimane ci porterà a questo compito. Se si desidera partecipare alla nostra risposta ti invitiamo a contattarci all'indirizzo ecrc@iff-hamburg.de. È importante che le discussioni si basano sui principi di prestito responsabile che abbiamo sviluppato insieme. ... [more...]
| 16/06/09 |
Crédit responsable – La Commission européenne ouvre sa Consultation. |
ECRC doit formuler sa réponse aux questions de la Commission. Cet été, pendant les semaines qui viennent nous allons nous mettre à cette tache. Si vous tenez à participer dans nos réponses veuillez nous contacter à ecrc@iff-hamburg.de. Il est important que les débats soient basés sur les principes du crédit responsable que nous avons élaborés ensemble. Lire la suite en... [more...]
| 16/06/09 |
RESPONSIBLE LENDING – Consultation time: The European Commission has published 2 Reports and the ECRC has been asked to submit its opinion on these documents before end of August... |
This summer, ECRC partners will need to get together and formulate their response to the work the Commission has done in the area of responsible lending and borrowing. We hope for a strong participation in the drafting of our response from our partners. Please contact the ECRC secretariat at ecrc@iff-hamburg.de if you already want to show that you desire to give input to... [more...]
| 10/06/09 |
The World Council of Credit Unions has also got their own principles that they refer to as their “Consumer Protection Principles“ |
The International Credit Union movement has developed its Consumer Protection Principles as well as other operating, governance and safety and soundness principles for credit unions. These and a few other principles need to be taken into account when regulators, policy makers, providers and other stakeholders of credit markets start putting forward their suggestions for... [more...]
| 27/05/09 |
Prinzipien des Bankenverbandes zum Umgang mit Kunden im Anlagegeschäft - Diskussion um verantwortungsvolle Finanzdienstleistungen muss beginnen. |
Der Bundesverband Deutscher Banken hat nun wie schon vor Jahren der englische Bankenverband sowie einzelne französische Banken und internationale Bankenverbände, deren Erklärungen wir dokumentiert haben (siehe diesen Link) Prinzipien veröffentlicht, die sich allerdings ausschließlich auf die Anleger beziehen. Diese Beschränkung ist bedauerlich, da Zahlungsverkehr,... [more...]
| 22/05/09 |
RESPONSIBLE LENDING STANDARDS - The European Mortgage Federation has made its Public Draft of Responsible Lending Standards available. |
The document represents the summary of the European Mortgage Industry’s reflections upon the subject of responsible lending at this point in time, but remains a work-in-progress upon which the EMF would welcome the comments of stakeholders. 11 Remarks and 15 Indicators! The 15 items treated as Indicators are not actually indicators until they become measureable and this... [more...]
| 09/03/09 |
Bundesverfassungsgericht verschafft rechtliches Gehör bei unverantwortlicher Kreditvergabe. OLG München muss bei Schrottimmibilien über Verkehrswert Beweis erheben |
Rechtsanwalt Kratzer aus Nürnberg schreibt über neue Entwicklungen in Bankhaftungsfällen, nachdem die höchstrichterliche Rechtsprechung seit etwa 10 Jahren ihre schützende Hand über die immer schlimmeren Praktiken im Kreditmarkt gehalten hat, deren Folgen jetzt vor allem bei der HypoReal Estate beobachtet werden können. Anlass ist ein Beschluss des Bundesverfassungsgericht... [more...]
| 03/03/09 |
„A New Era of Responsibility“ The Coalition for Responsible Credit (ECRC) welcomes this new American Government Approach and invites Politicians who share these convictions not to spare... |
„A New Era of Responsibility“ The Coalition for Responsible Credit (ECRC) welcomes this new American Blue Print and invites Politicians who share these convictions not to spare the financial sector and make the ECRC Principles of Responsible Credit operational. “New Era of Responsibility” – An Alternative to the neo-liberal “Fairnes Approach” According to Wall Street... [more...]
| 12/10/08 |
Best Practice beim verantwortlichen Kreditgeschäft - Corporate Social Responsibility in der Bankenpraxis |
Vorwort: Wer ein Auto herstellt und verkauft, ist für das Produkt, das er in den Verkehr gebracht hat, später auch in gewisser Weise verantwortlich. Denn man weiß bei der Produktion nicht, welche technischen Probleme es möglicherweise zukünftig mit den Fahrzeugen im Verkehr gibt und wer von den Folgen konkret betroffen sein kann. Was aufgrund der Produkthaftung inzwischen... [more...]
| 08/10/08 |
Kündigungsschutz bei Verbraucherkrediten, Managerverschulden als Ablenkung und Schutz bei Refinanzierung - Mittel und Ablenkung von der Stabilisierung der Kapitalmärkte |
Die US-amerikanische Bankenaufsicht fängt an umzudenken. In einer Rede auf dem sozialen Gipfel zu Zwangsversteigerungen von Wohnungen hat Barry R. Wides Deputy Comptroller for Community Affairs Office of the Comptroller of the Currency am 7.10.2008 das 4. Prinzip unserer Prinzipien verantwortlicher Kreditvergabe P4: Die Anpassung von Kreditbeziehungen an veränderte... [more...]
| 01/09/08 |
OVERINDEBTEDNESS: Report publsihed on the EU project on a common definition. |
The EU’s work on finding a common operational European definition of over-indebtedness has been published. The final report is available below. Please also see link to previous comment on the website. [more...]
| 29/07/08 |
De nouvelles idées pour un crédit responsable au Royaume-Uni ? L'OFT (Office of Fair Trading), une des 2 autorités de concurrence lance un projet sur toute une année sur le 'prêt... |
L'Office qui vérifi que les marchés travail bien pour l'avantage des consommateurs vient d'annoncer un proje d'un an ou la responsabilité des prêteurs sera mise sous la loupe. Ceci est sans doute les fruits d'un travail que notre membre d'ECRC, Debt on our Doorstep, a fait ces dernières années. L'annonce par l'authorité de la concurrence a été faite a la suite de... [more...]
| 29/07/08 |
New Ideas on Responsible Credit in the UK? The Office of Fair Trading is to launch year long project into 'responsible lending' and is in contact with ECRC. International ECRC... |
The Office of Fair Trading in the UK has announced that it is to start a year long project investigating responsibility in lending in response to calls from ECRC member, Debt on our Doorstep. The announcement followed national media attention in the UK concerning payday loans, with the BBC broadcasting a live interview with Damon Gibbons on Saturday 26th July. A link is... [more...]
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