Lords criticise EU consumer credit plans

The Commission’s proposals are designed to promote a cross border internal market in consumer credit by allowing lenders in one EU Member State to provide credit to consumers in another. This would replace the 1987 EU Directive in Consumer Credit which lays down EU-wide minimum standards of consumer protection, although member states can make additions to the standards if they wish. The new Directive aims to get rid of the differences in some aspects of national laws tin order to create a single market in consumer credit. This would effectively stop member states bringing in or changin...