The draft law reforming the consumer credit which was adopted in late April by the National Assembly must be considered in the Senate Monday on second reading. This text, which transposes into French law the European directive of 23 April 2008 aims to better encadrerla distribution of these credits, advertising and strengthens consumer information to avoid over-indebtedness. "This legislation, once passed, will provide a protective base for consumer credit," says Minister of Economy Christine Lagarde. guard, who hopes that the text be adopted as early as Monday, said her commitment to the Senate on a timetable for implementation "very accurate".
No less than 14 decrees and orders will be four needed for its implementation. Christine Lagarde, wants everyone to be published before the end of the year."I intend that all texts are published by the end of 2010 to ensure that all stakeholders are informed of the publication of texts and measures to implement," said the minister at a press conference. The entry into force of the texts will then be scheduled through May 2011.
Division on the register of credits
The minister promised to create, upon promulgation of the text, the Committee shall deliver foreshadowing, over the next 12 months, a report on the establishment of a national registry of credits, also called positive file. This file would identify all loans taken by the French and could be accessed for each request for new credit.Christine Lagarde has ensured that the committee was established following the enactment of the law shows that it is not "being in time to push for it (the positive file, ie) becomes the Arlesienne."
The principle of this file, however, continues to divide and most consumer groups will remain opposed, citing an infringement of individual liberties and the fear of use of information by credit institutions. .
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