EUF paper on Responsible Lending- Definition of non credit institutions
On 30 September 2010, the EUF wrote to the European Commission on the subject of the Commission's Working Paper on Responsible Mortgage Lending. Although clearly not intended to affect our Industry, the paper's references to non-credit institutions could inadvertantly have led to the consequence of the proposals extending into the provision of factoring and invoice finance. The EUF therefore considered important to ensure the Commission's clarity of language and to confirm appropriate scope limits were established.
The letter may be read here...