Mis-selling of Financial Products: Consumer Credit

13-06-2018

This paper is part of a series of five studies on mis-selling of financial products in the EU. Retail financial markets across the EU have been upset by large-scale mis-selling of financial products to consumers. As part of a series of five studies on this topic, this paper examines the problem of mis-selling with a particular focus on consumer credit. It identifies the most problematic products and practices in consumer credit markets that may cause consumer detriment and shows some important limitations of the current EU regulatory framework for consumer credit in providing adequate consumer protection. This document was provided by Policy Department A at the request of the ECON Committee.

This paper is part of a series of five studies on mis-selling of financial products in the EU. Retail financial markets across the EU have been upset by large-scale mis-selling of financial products to consumers. As part of a series of five studies on this topic, this paper examines the problem of mis-selling with a particular focus on consumer credit. It identifies the most problematic products and practices in consumer credit markets that may cause consumer detriment and shows some important limitations of the current EU regulatory framework for consumer credit in providing adequate consumer protection. This document was provided by Policy Department A at the request of the ECON Committee.

External author

Prof.dr. O. O. CHEREDNYCHENKO, J.-M. MEINDERSTMA