Local view for "http://purl.org/linkedpolitics/eu/plenary/2016-11-21-Speech-1-093-000"
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"en.20161121.13.1-093-000"2
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"Mr President, the ability for everyone to access high-quality, safe and affordable financial services has become increasingly important. Olle Ludvigsson’s report offers many suggestions on how we can encourage new growth areas, including cross-border services. But, of course, we also need to consider how we can better protect consumers.
People can be financially excluded in many different ways; they may lack safe ways to borrow, encouraging them to turn to payday lenders or loan sharks, or they may be unable to access funds and services across countries – with one of my constituents finding it next to impossible to access funds stolen from her family by the National Socialists mainly because of administrative impediments.
So I am really pleased the rapporteur has taken on board many of my concerns, from calling for a simple, safe and portable financial products framework to acknowledging issues arising from the digital divide, to making sure incentive structures for staff in financial services do not promote mis-selling or inappropriate cross-selling, to advocating rigorous and consistent enforcement of consumer protection across states.
British consumers have been subject to many of the same sharp practices and scandals as other Europeans. So I hope the UK Government will follow and emulate developments at EU level to improve retail financial services, rather than trail behind them."@en1
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