Most Europeans are using credits while consuming, for example when they buy a new TV or a car. However, the Europeans are not so keen to use banks or credit companies based in other Member States than their own. Therefore, the European Parliament voted new rules creating a Europe-wide market in credit. The new rules cover loans between 200 euro and 75 000 euro, and states a right to information that lenders must make available, a right to move a loan from one bank to another and a right to withdraw.
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