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Financial services: Commission encourages applications for new Expert Group on Credit Histories

European Commission - IP/08/944   16/06/2008

Other available languages: FR DE

IP/08/944

Brussels, 16 June 2008

Financial services: Commission encourages applications for new Expert Group on Credit Histories

The European Commission is to create an Expert Group on Credit Histories (EGCH). The group will be composed of experts competent in the area of credit data. It will aim to identify solutions that maximize the circulation of credit data within the EU, and will present its recommendations in the form of a report to be completed by 1 May 2009. Interested candidates are invited to send an application to the Commission by 14 July 2008.

Internal Market and Services Commissioner Charlie McCreevy said: "Access to and availability of credit data are important factors in a competitive banking market. They reduce the advantage of large market players who have access to a wide range of information on their clients and make it easier for foreign players to enter the market. The possibility for financial institutions to have access to complete and correct credit data on their clients also has an important impact on consumers' welfare. Insufficient information limits product choice and may lead to unnecessarily high prices for the consumer."

The call for applications will be open until 14 July 2008. It is addressed to experts representing both private and public stakeholders: consumer associations, the financial industry, national authorities, academia, etc., who demonstrate the relevant competences and practical experience. A maximum of 20 experts will be selected.

The creation of the EGCH is one of the Commission initiatives announced in its Communication on 'A Single Market for 21st century Europe' published in November 2007 (IP/07/1728). The mandate of the experts will start with the first meeting of the group, in September 2008, and end with the completion of their report. The group will meet in Brussels and will be chaired by the Internal Market and Services DG of the European Commission.

More detailed information about the mandate of the group and the selection criteria for the members can be found in the documentation available at:

http://ec.europa.eu/internal_market/finservices-retail/credit/history_en.htm


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