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An economic analysis of the EU Commission's proposal for a new Consumer Credit Directive – Offering consumers more protection or restricting their options?

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  • Wim Kösters
  • Stephan Paul
  • Stefan Stein
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    Abstract

    Although the aims of the proposed new CCD are positive, the current draft is unlikely to help to fulfil them. The regulations that are intended to protect consumers seem to work against their interests. They would not make the market more transparent or effective, increase the level of protection, or harmonise legislation throughout the EU. Instead, the proposals (which are well intended but excessive) would weaken the spirit of competition on both the supply and demand sides..[...]

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    File URL: http://repec.rwi-essen.de/files/M_04_009.pdf
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    Bibliographic Info

    Article provided by Rheinisch-Westfälisches Institut für Wirtschaftsforschung in its journal RWI Materialien.

    Volume (Year): (2004)
    Issue (Month): (02)
    Pages: 33

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    Handle: RePEc:rwi:materi:009

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    1. Kleimeier, Stefanie & Sander, Harald, 2000. "Regionalisation versus globalisation in European financial market integration: Evidence from co-integration analyses," Journal of Banking & Finance, Elsevier, vol. 24(6), pages 1005-1043, June.
    2. Inês Cabral & Frank Dierick & Jukka Vesala, 2002. "Banking integration in the euro area," Occasional Paper Series 06, European Central Bank.
    3. Dean M. Maki, 2000. "The growth of consumer credit and the household debt service burden," Finance and Economics Discussion Series 2000-12, Board of Governors of the Federal Reserve System (U.S.).
    4. Hung, Fu-Sheng & Cothren, Richard, 2002. "Credit market development and economic growth," Journal of Economics and Business, Elsevier, vol. 54(2), pages 219-237.
    5. Jonathan McCarthy, 1997. "Debt, delinquencies, and consumer spending," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 3(Feb).
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