CML says EU cross-border lending won't work

In a renewed attack on the European Commission's recent Green Paper and cost-benefit analysis of an integrated European mortgage market the CML says experience to date shows insignificant cross-border trade among consumers and lenders meaning there is little appetite to operate in this way. But the Commission appears keen to promote this path, regardless of the lack of demand, says the CML, adding it is concerned this could impose an “onerous, costly, and bureaucratic regulatory regime without ever achieving the desired result”. By contrast, the CML claims there is interest among inter...