CRIF and EFMA conducted a survey which examines the strategies put in place over the last year by lenders in 16 European countries in reaction to the economic crisis, to counteract over indebtedness among retail customers, and pursue an approach based on responsible lending. The CRIF/EFMA report also looks at regional variations of the implementation of the EU Consumer Credit Directive.


  • The processes put in place by European lenders for the restructuring and revisions of credit policies are seeing a gradually increasing use of new metrics for assessing financial sustainability.
  • An analysis of the responses showed a second key point: the majority of those questioned, 89%, use rating systems based on internal data for the assessment of creditworthiness; 74% of these supplement this with external credit bureau data, but only 22% have redeveloped rating their systems to incorporate financial sustainability indicators.
  • The Consumer Credit Directive has pushed banks and financial institutions towards sustainable lending tools and practices:

The survey was carried out through the electronic completion of a questionnaire and direct interviews with senior executives of banks and financial institutions operating in 16 European countries.

To read the full story click on the link:   Source: CRIF Press Release