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Parliamentary questions
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28 October 2019
Question for written answer
to the Commission
Rule 138
Leszek Miller
 Answer in writing 
 Subject: Reinforcing the EU standard for protection of consumer rights in the retail credit market by combating usurious practices in the EU

In Case C-260/18, which was recently concluded before the Court of Justice and which was very important for the lives of many thousands of EU citizens, including in Poland, the Court gave a pro-consumer interpretation of EU law, considering that national courts may make suitable amendments to abusive clauses – rather than declaring them invalid ex lege – in foreign currency-indexed mortgage contracts, taking into account the legitimate interests of the consumer. Similarly, the Court clearly supported consumers in Case C-383/18, taking the view that in the event of early repayment of a borrower’s loan, a proportionate reduction in all the fees and costs associated with the loan, including the commission charged by the bank, and not merely the interest, should be required.

I believe that it is in the interest of all EU citizens to further strengthen the EU standard for protection of consumer rights in the retail credit market. In this context, I consider it essential to combat particularly unethical practices in the consumer credit market (usury), which most often feed on human misery and lead to a spiral of debt for the most vulnerable people.

In this connection, does the Commission intend to include provisions prohibiting usurious practices in the EU’s retail credit market in its current work on a legislative proposal for a directive on consumer credit?

Furthermore, does it envisage other legal solutions to prevent EU citizens from becoming over-indebted?

Original language of question: PL
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