Consumers better protected when borrowing money

The EPP Group welcomes the vote on the new rules on consumer credits in the European Parliament's Committee on Internal Market and Consumer Protection today. "With these new rules, consumers are better protected when borrowing money", said Tomislav Sokol MEP, who led the negotiations on the new rules on behalf of the EPP Group.

"The agreement on the new rules did not come easy, but I am pleased that the EPP Group, fighting for consumer rights, ensured that consumers can still use payment methods such as deferred payment without the need to go through additional administrative barriers", said Sokol.

"The new rules adapt consumer credits to the ubiquitous digitalisation trends. Moreover, this is one of the first EU rules that specifies the so-called 'right to be forgotten' for cancer survivors. In addition, when assessing creditworthiness, financial institutions will not be allowed to consult consumers’ health data. That is a big win for the European Parliament and EU consumers", Sokol stressed.