A European Perspective on Consumer Loans and the Role of Credit Registries: the Need toReconcile Data Protection, Risk Management, Efficiency, Over-indebtedness, and a Better Prudential Supervision of the Financial System

Ferretti, Federico

doi:10.1007/s10603-009-9120-y

Cited by 19 publications

(2 citation statements)

References 23 publications

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“…In turn, the first issue raises debates over duties and social responsibilities and the institutions which should be entrusted with the exercise of the social function of controlling over-indebtedness in the interest of consumers, as well as the oversight of these systems. 93…”

Section: Credit Laws and Credit Datamentioning

confidence: 99%

Not-So-Big and Big Credit Data Between Traditional Consumer Finance, FinTechs, and the Banking Union: Old and New Challenges in an Enduring EU Policy and Legal Conundrum

Ferretti

2017

Global Jurist

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This paper discusses the role and usage of traditional and non-traditional consumer data in the retail financial markets of the European Union in the context of the economic theories, policies, and law within which they work. Across Europe there is no common practice of using the credit data of consumers, which can be exploited for several purposes. Traditionally, they are used by the lending industry as a risk-management tool to underwrite borrowing decisions or price risks, but they can also be used as a practice of creditworthiness assessment. In some Member States, consumer data are part of a broader information centralisation system for the prudential supervision of banks and the financial system as a whole. Within this already complex picture, emerging technologies and the processing of new generations of personal data are starting to give way to new business models that can transform retail financial markets (Fintechs). Whatever the function the data perform, their source, type, breath, and depth differ greatly from country to country. Unlike for the harmonisation of EU rules on credit to consumers for the creation of the internal market, the underlying consumer data infrastructure remains fragmented at national level, failing to achieve univocal, common, or defined policy objectives under a harmonised legal framework. Likewise, the establishment of the Banking Union and the prudential supervision of the Euro-area demand standardisation and convergence of the data used to measure debt levels, arrears, and delinquencies. The many functions and different usages of credit data suggest that the policy goals to be achieved should inform the design and structure of the databases, as well as the role, legal, and institutional framework of the organisations managing the data system (the Data Brokers). This is also because fundamental rights and consumer protection concerns arise from the dissemination and sharing of traditional and non-traditional data, as well as from their expanding uses. This is an area of the EU internal market that demands the attention of the EU legislator without further delays.

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Section: Credit Laws and Credit Datamentioning

confidence: 99%

Not-So-Big and Big Credit Data Between Traditional Consumer Finance, FinTechs, and the Banking Union: Old and New Challenges in an Enduring EU Policy and Legal Conundrum

Ferretti

2017

Global Jurist

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“…40. Study on the functioning of judicial systems in the EU Member States Facts and figures from the CEPEJ questionnaires2010, CEPEJ, 2015., 15, Part 1, rev 2, 2016…”

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confidence: 99%

Odgovorno kreditiranje de lege lata i de lege ferenda – uloga Hrvatskog registra obveza po kreditima

Torjanac¹,

Petrović

2019

ZPFZ

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Izvorni znanstveni rad Primljeno: svibanj 2018.Kreditni registar jedan je od kotačića u okviru postupka procjene kreditne sposobnosti, koji je u svjetskim razmjerima postao neizostavan dio financijske infrastrukture današnjice. U Republici Hrvatskoj djeluje Hrvatski registar obveza po kreditima d.o.o., trgovačko društvo koje vodi sustav koji omogućuje razmjenu podataka o zaduženosti i urednosti u podmirivanju obveza određene osobe iz baza podataka uključenih u registar te sačinjavanje kreditnog izvješća za tu osobu korištenjem tih podataka. U radu se analizira uloga HROK-a te kako on može doprinijeti odgovornijem kreditiranju, pa se njegova djelatnost razmatra u kontekstu odnosa aktera u procesu procjene kreditne sposobnosti -kreditne institucije, potrošača i samog HROK-a. Na taj se način uspoređuje aktivnost HROK-a i njegovo pravno okružje s europskim i svjetskim inačicama, napose u državama članicama EU-a, a posebice u Njemačkoj. Postavljaju se pitanja usklađenosti pravne regulative koja se dotiče HROK-a s pravnom stečevinom EU-a te ima li prostora za izmjenu u smislu širenja funkcija HROK-a i njegove baze podataka te postiže li se i kako ravnoteža između slobodnog protoka podataka i prava potrošača na zaštitu podataka. Konačno, predlažu se modeli i promjena regulative tako da se olakša pristup * Jan Torjanac, mag. iur., odvjetnički vježbenik u odvjetničkom društvu Korper i partneri, Prilaz Gjure Deželića 16, Zagreb;

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Information Exchanges Among Competitors in EU Retail Financial Markets

Ferretti

2014

SpringerBriefs in Law

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A European Perspective on Consumer Loans and the Role of Credit Registries: the Need toReconcile Data Protection, Risk Management, Efficiency, Over-indebtedness, and a Better Prudential Supervision of the Financial System

Cited by 19 publications

References 23 publications

Not-So-Big and Big Credit Data Between Traditional Consumer Finance, FinTechs, and the Banking Union: Old and New Challenges in an Enduring EU Policy and Legal Conundrum

Not-So-Big and Big Credit Data Between Traditional Consumer Finance, FinTechs, and the Banking Union: Old and New Challenges in an Enduring EU Policy and Legal Conundrum

Odgovorno kreditiranje de lege lata i de lege ferenda – uloga Hrvatskog registra obveza po kreditima

Information Exchanges Among Competitors in EU Retail Financial Markets

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