17 Amendments of Olle SCHMIDT related to 2011/0062(COD)
Amendment 191 #
Proposal for a directive
Recital 8
Recital 8
(8) As consumers and enterprises are not in the same position, they do not need the same level of protection. While it is important to guarantee consumers’ rights by provisions that cannot be derogated from by contract, it is reasonable to let enterprises and organisations engage in other agreements. This Directive should therefore only apply to credit granted to consumers. Member States should, however, have the possibility to extend the scope to natural or legal persons that are not consumers, notably micro-enterprises, as defined by Commission Recommendation 2003/361/EC of 6 May 2003 concerning the definition of micro, small and medium-sized enterprises26 .
Amendment 240 #
Proposal for a directive
Recital 29 b (new)
Recital 29 b (new)
(29b) When a database is used during the assessment of an application for credit, and the result of the database consultation is negative for the consumer, based on the data or on the lack of data therein, the creditor should inform the consumer thereof, of the name of the database consulted and of any other elements required by Directive 95/46/EC so as to enable the consumer to exercise his right to access and, where necessary, rectify, erase or block personal data concerning him and processed therein.
Amendment 293 #
Proposal for a directive
Article 2 – paragraph 1 – point c
Article 2 – paragraph 1 – point c
Amendment 385 #
Proposal for a directive
Article 6 – paragraph 3
Article 6 – paragraph 3
Amendment 394 #
Proposal for a directive
Article 6 – paragraph 4
Article 6 – paragraph 4
Amendment 410 #
Proposal for a directive
Article 8 – paragraph 2 – subparagraph 1 – point h
Article 8 – paragraph 2 – subparagraph 1 – point h
(h) the total amount payable by the consumer; which is an estimate based on the conditions prevailing at the time of marketing;
Amendment 419 #
Proposal for a directive
Article 8 – paragraph 2 – subparagraph 2
Article 8 – paragraph 2 – subparagraph 2
The standard information shall be easily legible or clearly audible as appropriate, depending on the medium used for advertising and marketing. The standard information shall be adapted to the fact that mortgage contracts often last between 30-50 years.
Amendment 431 #
Proposal for a directive
Article 9 – paragraph 1 – subparagraph 2 – point b
Article 9 – paragraph 1 – subparagraph 2 – point b
Amendment 439 #
Proposal for a directive
Article 9 – paragraph 1 – subparagraph 2 – point g
Article 9 – paragraph 1 – subparagraph 2 – point g
(g) an indicative example of the total cost of credit forestimation of the total amount payable by the consumer and annual percentage rate of charge;
Amendment 463 #
Proposal for a directive
Article 9 – paragraph 2 – subparagraph 1
Article 9 – paragraph 2 – subparagraph 1
Member States shall ensure that the creditor and, where applicable, the credit intermediary, without undue delayin good time before the consumer is bound by any credit agreement and after the consumer has given the necessary information on his needs, financial situation and preferences in accordance with Article 14, provides the consumer with the personalised information needed to compare the credits available on the market, assess their implications and take an informed decision on whether to conclude a credit agreement. Such information, on paper or on another durable medium, shall be provided by means of the European Standardised Information Sheet (‘ESIS’), as set out in Annex II.
Amendment 471 #
Proposal for a directive
Article 9 – paragraph 2 – subparagraph 2
Article 9 – paragraph 2 – subparagraph 2
Member States shall ensure that when an offer binding on the creditor is provided to the consumer, it shall be accompanied by an ESIS. In such circumstances, Member States shall ensure that the credit agreement cannot be concluded until the consumer has had sufficient time to compare the offers, assess their implications and take an informed decision on whether to accept an offer, regardless of the means of conclusion of the contract. If the consumer has a right of withdrawal in respect of the credit agreement, this shall in itself be regarded as providing him with sufficient time to take a decision.
Amendment 476 #
Proposal for a directive
Article 9 – paragraph 2 – subparagraph 2 a (new)
Article 9 – paragraph 2 – subparagraph 2 a (new)
Due to the fact that mortgage contracts are long credit agreements with changes in terms of the contract, the information requirement shall take into account that the creditor, and where applicable the credit intermediary, can have difficulties to estimate the amortisation amount and the start of the contract.
Amendment 477 #
Proposal for a directive
Article 9 – paragraph 2 – subparagraph 2 b (new)
Article 9 – paragraph 2 – subparagraph 2 b (new)
The creditor and, where applicable, the credit intermediary shall only be obligated to provide ESIS to the borrower on one occasion. However, if the interest rate changes information from the creditor intermediary must be updated.
Amendment 481 #
Proposal for a directive
Article 9 – paragraph 3
Article 9 – paragraph 3
Amendment 506 #
Proposal for a directive
Article 10 – paragraph 3
Article 10 – paragraph 3
Amendment 546 #
Proposal for a directive
Article 13 – paragraph 1
Article 13 – paragraph 1
1. Member States shall ensure that the creditor informs the consumer of any change in the borrowing rate, on paper or another durable medium, before the change enters into force before the change enters into force. The information should be provided either on paper, through durable medium or daily press combined with personal information no later then the next notification or account statement. The information shall state the amount of the repayments to be made after the entry into force of the new borrowing rate and, in cases where the number or frequency of the payments changes, particulars thereof.
Amendment 613 #
Proposal for a directive
Article 15 – paragraph 1
Article 15 – paragraph 1
1. Member States shall ensure that consumers provide creditors and, where applicable, credit intermediaries with completenecessary and correct information on their financial situation and personal circumstances in the context of the credit application process. That information should be supported, when necessary, by documentary evidence from independently verifiable sources.