Press releases

The European Commission today unveiled an Action Plan to tackle ‘non-performing loans’ (NPLs) in the aftermath of the COVID-19 pandemic. NPLs - loans subject to late repayment or unlikely to be repaid -are expected to rise sharply once measures to support households and businesses put in place during the pandemic come to an end.

Today the European Commission adopted the “Consumer Agenda”, its consumer policy strategy for the next five years. It lays down the Commission’s consumer policy objectives and will serve as guidance to include consumer interests in all policy areas. Focus areas are the green and digital transition as well as the post-COVID economic recovery.

Consumers potentially came one step closer to fairer and better quality financial advice today, with a European Commission commitment to assess the ‘quality and objectivity’ of financial advice.

New guidelines issued to financial institutions will offer some welcome breathing space to consumers who have been hit financially by the COVID-19 pandemic.