The Council of Mortgage Lenders (CML) has urged the European Commission to concentrate on measures that will make it easier to do business across different member states, not just on measures to harmonise consumer protection.
Speaking at a hearing held in Brussels yesterday director general, Michael Coogan, has said: "I believe that if integration is going to happen across Europe, it will be driven by lenders' commercial decisions to become more international in their mortgage operations. Successful integration will not be driven by consumer demand nor by harmonised consumer protection measures. But, there is an important role for the European Commission to promote measures to improve national and cross-national co-operation on legal and collateral issues. This should deliver real benefits to lenders and to thei...
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