Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-11-19-Speech-1-192-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2012-11-19"^^xsd:date2
dcterms:Is Part Of	lp_eu:Implementation of the Consumer Credit Directive (short presentation)2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20121119.24.1-192-000"2
lpv:hasSubsequent	lp_eu:2012-11-19-Speech-1-193-0002
lpv:speaker	lp:Phil Prendergast2
lpv:spoken text	"Mr President, misleading or unclear information regarding the total cost of loans to consumers can cause serious financial difficulties, particularly to households with limited available incomes. The Commission must ensure that the Consumer Credit Directive is correctly transposed by Member States and that consumers have a right to definite information relating to borrowing rates and charges incurred that is provided in an intelligible manner. Information provided online by financial institutions has been found wanting by Commission checks, whereas a significant majority of the websites monitored provided either insufficient or misleading information and a significant proportion of cross-border loans were taken out online. I have particular concerns about the specific risks involved. The exchange rate and interest rate variations, especially at times of financial volatility, can cause sudden and significant hikes in the cost of loans. Loans are increasingly taken out by other means, for example SMS loans. This is a cause for concern and I would urge the Commission to act on it."@en1
lpv:spokenAs	member; S&D (2011-04-21--2014-06-30)3 member; Delegation for relations with the United States (2011-05-09--2014-06-30)3 substitute; PETI (2012-01-19--2014-06-30)3 substitute; AGRI (2012-01-19--2014-06-30)3 member; IMCO (2012-01-19--2014-06-30)3 unknown; Labour Party (2011-04-21--2014-06-30)3 substitute; Delegation for relations with Switzerland and Norway and to the EU-Iceland Joint Parliamentary Committee and the European Economic Area (EEA) Joint Parliamentary Committee (2011-05-05--2014-06-30)3
lpv:unclassifiedMetadata	"Phil Prendergast (S&D )."1
lpv:videoURI	<go to Events_and_structure europarl>2

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