MSE News: New consumer credit rules to protect borrowers revealed

Former_MSE_Natasha
Former_MSE_Natasha Posts: 672 Forumite
edited 30 March 2010 at 1:57PM in Loans
This is the discussion thread for the following MSE News Story:

"Borrowers of unsecured lending will soon be protected by new policies laid down by the Government in Parliament today...."
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Comments

  • plumber2009
    plumber2009 Posts: 304 Forumite
    This forms part of the Consumer Credit Directive due to be enforced by febuary 2011.
    The main focus of this directive is to open up the european credit market by creating a single set of rules for both lenders and borrowers throughout europe.
    This will allow for greater competition and inevitably benefit the consumer. This will also help to prevent people from negecting their debt commitments by moving to a diffrent country and therefore abandoning their commitment to pay. This will be achieved by effectively creating a european credit refrence agency.
  • ~Brock~
    ~Brock~ Posts: 1,710 Forumite
    First Anniversary First Post Combo Breaker
    Don't believe any government spin that gives the impression that they are responsible for these new rules to protect consumers blah blah.....

    This is a European Directive that is being implemented in every member state.
  • PROLIANT
    PROLIANT Posts: 6,396 Forumite
    Combo Breaker First Post
    And is any of this covered.....see below.

    http://forums.moneysavingexpert.com/showthread.html?t=2038501
    Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.
  • ~Brock~
    ~Brock~ Posts: 1,710 Forumite
    First Anniversary First Post Combo Breaker
    PROLIANT wrote: »
    And is any of this covered.....see below.

    http://forums.moneysavingexpert.com/showthread.html?t=2038501

    In a word. No.
  • PROLIANT
    PROLIANT Posts: 6,396 Forumite
    Combo Breaker First Post
    ~Brock~ wrote: »
    In a word. No.
    Oh right:cool:
    Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.
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