Friday, 12 March 2010

Coalition calls for fair financial services for consumers in Europe

CI member organisations including Zveza Potrošnikov Slovenije (Slovenia), Verbraucherzentrale Bundesverband (Germany) and Test-Achats (Belgium) have partnered with the European Coalition for Responsible Credit (ECRC). This broad network of consumer groups and other civil society organisations is calling for fair financial services provision in Europe.

ECRC have developed and are promoting the following seven principles of Responsible Credit:

1. Responsible and affordable credit must be provided for all.

2. Credit relations have to be transparent and understandable.

3. Lending has at all times to be cautious, responsible and fair.

4. Adaptation should be preferred to credit cancellation and destruction.

5. Protective legislation has to be effective.

6. Over-indebtedness should be a public concern.

7. Borrowers must have adequate means to defend their rights and be free to voice their concerns.

To find out more about ECRC visit

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