Strasbourg, 10/10/2001 (Agence Europe) - On Thursday, the EP approved the Commission recommendation on pre-contractual information that consumers must receive at the time they conclude mortgages. The rapporteur, CSU member Alexander Radwan welcomed the first agreement of this type between associations representing banks, on the one hand, and consumers, on the other. It is a question of a voluntary code of conduct, that should rapidly be implemented in a generalised manner, and the workings of which should be facilitated by the setting up of an arbitration body and a public access register indicating if the loaners are signatories to the code of not, and by the inclusion of loaners offering "on-line" mortgages. If the code is not implemented sufficiently broadly, the Commission could be forced to submit a draft legislative act.
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