In specific, the directive will not need that Member States control product contract terms by means of cost caps or rollover limitations.
Third, the customer Credit Directive will not offer any substantive safeguards against exorbitant rates of interest or other possibly dangerous options that come with high-cost credit items that may adversely impact the consumerвЂ™s monetary health. Neither does it lay out any guidelines made to avoid institutions that are monetary financial products which could potentially cause customer detriment. When you look at the absence of EU harmonization on such issues that are sensitive it is as much as Member States how to approach them in addition to used solutions differ significantly ( e.g., Cherednychenko 2014; Reifner et al. 2010). Read More