EU Commission wants stronger product
safety, credit rules for consumers
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[June 30, 2021]
By Foo Yun Chee
BRUSSELS (Reuters) - The European
Commission on Wednesday proposed beefing up product safety and consumer
credit rules for consumers, prompted by the surge in online shopping by
people during COVID-19 lockdowns and the increasing digitalisation of
everyday life. |
European Commission
vice-president in charge for Values and Transparency Vera Jourova gives
a press conference during a General Affairs Council in Luxembourg, June
22, 2021. John Thys/Pool via REUTERS |
Existing rules known as the General Product Safety Directive
came into force in 2001 while rules on consumer credit to
safeguard consumers were implemented in 2008.
The EU executive said 70% of consumers shopped online last year,
with new technology products making up the bulk of their
purchases.
"We are making it easier for consumers to avoid risks related to
having a credit and we are putting even stronger rules for
product safety in place," Commission Vice President Vera Jourova
said in a statement.
"It will also put more responsibility on market players and make
it more difficult for bad actors to hide behind complicated
legal jargon," she said.
The proposals seek to address cybersecurity risks and require
online marketplaces to adopt product safety rules.
The Commission also wants information related to credits to be
presented in a clear way and adapted to digital devices to
ensure that consumers understand what they are signing up for.
The Consumer Credit Directive should also reinforce rules
regarding users' creditworthiness to avoid the issue of
over-indebtedness while EU countries will be asked to promote
financial education and to ensure debt advice is made available.
"The COVID-19 crisis has impacted consumers in multiple ways and
many have faced financial difficulties," EU Justice Commissioner
Didier Reynders said.
The proposals will need to be discussed with EU countries and
the European Parliament before they can come into force.
(Reporting by Foo Yun Chee; Editing by Robert Birsel)
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