The European Association of Co-operative Banks (EACB) welcomes the opportunity to participate in the EBA consultation process on “Arrears and Foreclosure”.
Mortgage lending is at the very core of co-operative banking business. When it comes to the treatment of borrowers in arrears, the EACB is of the opinion that prevention is the best cure. We thus believe that a good relationship between creditor and consumer is the best guarantee for establishing at an early stage that consumers are going into “payment difficulties” and for establishing an effective co-operation based on trust.
EACB has carefully reviewed the consultation document with its members and would like to formulate a number of observations. Some of these are relating to the set of proposed guidelines as a whole (“general comments”) and some are answers to the specific
To read the comments of the EACB, please download the PDF