9 Amendments of Stéphanie YON-COURTIN related to 2018/0063A(COD)
Amendment 272 #
Proposal for a directive
Article 1 – paragraph 1 a (new)
Article 1 – paragraph 1 a (new)
This Directive relates to non-performing credit agreements. Creditors shall not be allowed to transfer to third parties performing credit agreements concluded with consumers.
Amendment 367 #
Proposal for a directive
Article 11 – paragraph 1 a (new)
Article 11 – paragraph 1 a (new)
1a. With regard to credit agreements concluded between creditors and consumers, a credit servicer shall be required to obtain an authorisation and establish a branch or a subsidiary in the Member State where it intends to operate.
Amendment 377 #
Proposal for a directive
Article 12 – paragraph 1 a (new)
Article 12 – paragraph 1 a (new)
1a. Credit servicers shall not be allowed to provide cross-border services in respect of credit agreements concluded between creditors and consumers. In that case, credit servicers shall be authorised and supervised by the competent authorities of the Member State where they effectively operate.
Amendment 386 #
Proposal for a directive
Title 2 – chapter 2 a (new)
Title 2 – chapter 2 a (new)
Rights and protection of distressed consumer borrowers
Amendment 387 #
Proposal for a directive
Article 12 a (new)
Article 12 a (new)
Article 12a Forbearance measures and foreclosure 1. Creditors shall make every effort to avoid transferring consumer non- performing loans to third parties. Notably, Member States shall ensure that creditors exercise reasonable forbearance towards the distressed borrowers, in accordance with Article 28 of Directive 2014/17/EU and the EBA Guidelines on arrears and foreclosure EBA/GL/2015/12. 2. Forbearance measures may include the following concessions to the consumer: (a) a total or partial refinancing of a credit agreement; (b) a modification of the previous terms and conditions of a credit agreement, which may include among others: (i) extending the term of the mortgage; (ii) changing the type of the mortgage (such as, changing the type of mortgage from a capital and interest mortgage to an interest only mortgage); (iii) deferring payment of all or part of the instalment repayment for a period; (iv) changing the interest rate up to a certain cap; (v) offering a payment holiday. 3. Definition of non-performing loans adopted by Commission Implementing Regulation (EU) 2015/227 shall be without prejudice to the creditors’ forbearance obligations. 4. In case of foreclosure, when the credit is secured by the consumer’s primary residence, return or transfer to the creditor or a third-party of the security or proceeds from the sale of the security shall be sufficient to repay the credit. Article 28(4) of Directive 2014/17/EU shall be amended accordingly.
Amendment 388 #
Proposal for a directive
Article 12 b (new)
Article 12 b (new)
Article 1 b Debt buy-back 1. When a credit institution intends to transfer a credit agreement to a credit purchaser at a specified price, before the transfer the credit institution shall allow the debtors concerned who are consumers to buy back their debt at the same price or with a small mark-up, which would be specified by the relevant competent authorities. For that purpose, credit institutions shall be required to disclose to the relevant competent authorities the necessary details of expected deals with credit purchasers. 2. Member States shall ensure that the buy-back option can be exercised in instalments.
Amendment 389 #
Proposal for a directive
Article 12 b (new)
Article 12 b (new)
Amendment 390 #
Proposal for a directive
Article 12 d (new)
Article 12 d (new)
Article 12d Right to legal representation 1. In any court hearing involving a distressed borrower there shall be consideration of the equality of representation status to ensure a full and fair hearing and full and complete understanding of all of the parameters and legal contentions being addressed. 2. This demands that there be an equivalent of legal representation provided and available to all distressed borrowers and, insufficient advance, to ensure comprehensive preparation of all relevant facts and detail for appropriate court representation of the case in dispute. 3. Where necessary, this service shall be provided at the cost of the Member State through free legal aid or its equivalent;
Amendment 391 #
Proposal for a directive
Article 12 e (new)
Article 12 e (new)
Article 12e Out of court settlement Member States shall ensure that independent and effective out-of-court settlement mechanisms are available to consumers. Those mechanisms shall comprise direct settlement and alternative dispute resolution.