Will the Directive 2014/17/EU on mortgage credit protect consumers in the next economic and/or financial crisis?

dc.contributorHáskóli Íslandsen_US
dc.contributorUniversity of Icelanden_US
dc.contributor.authorMendez Pinedo, M. Elvira
dc.contributor.departmentLagadeild (HÍ)en_US
dc.contributor.departmentFaculty of Law (UI)en_US
dc.contributor.schoolFélagsvísindasvið (HÍ)en_US
dc.contributor.schoolSchool of Social Sciences (UI)en_US
dc.date.accessioned2018-12-03T11:05:52Z
dc.date.available2018-12-03T11:05:52Z
dc.date.issued2018-06
dc.descriptionPublisher's version (útgefin grein)is
dc.description.abstractThe Directive 2014/17/EU on mortgage credit agreements for real estate properties (Mortgage Credit Directive or MCD) reflects the classic tension in the European Union (EU) between the goal of attaining a European single mortgage credit market and the obligation to provide a high level of consumer protection. The classic approach of EU law to solve the tension is to find a balance between those aims through the interaction of public/private law. The article starts with a summary of the most important choices done by the legislator (exante information duties and responsible credit) and essential consumer right. It follows with a critical assessment of the MCD. The methodology of this study is both descriptive and analytical, law is considered not only a normative system but also a set of policy instruments influenced by other disciplines (ie. economics). The findings lead both to optimism and to criticism. Although the European harmonization represents a further step ahead in the area of financial services and consumer protection, some critical questions are still forgotten or left aside. The most important question remains unanswered, whether the MCD will protect consumers when the next economic/financial crisis inevitably arrives. The implications are clear: more research and better policy are needed.en_US
dc.description.versionPeer Revieweden_US
dc.format.extent564-584en_US
dc.identifier.citationM. Elvira Mendez-Pinedo, 2018. "Will the Directive 2014/17/EU on mortgage credit protect consumers in the next economic and/or financial crisis?," Juridical Tribune (Tribuna Juridica), Bucharest Academy of Economic Studies, Law Department, vol. 8(2), pages 564-584, June.en_US
dc.identifier.issn2247-7195
dc.identifier.issn2248-0382 (eISSN)
dc.identifier.journalJuridical Tribuneen_US
dc.identifier.urihttps://hdl.handle.net/20.500.11815/932
dc.language.isoenen_US
dc.publisherBucharest University of Economic Studies, Law Departmenten_US
dc.relation.ispartofseriesJuridical Tribune;8(2)
dc.relation.urlhttps://ideas.repec.org/a/asr/journl/v8y2018i2p564-584.htmlen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectMortgage credit agreementsen_US
dc.subjectEU lawen_US
dc.subjectEEAen_US
dc.subjectConsumer informationen_US
dc.subjectProtection of consumer's rightsen_US
dc.subjectResponsible lendingen_US
dc.subjectEvrópurétturen_US
dc.subjectFasteignaviðskiptien_US
dc.subjectVeðrétturen_US
dc.subjectEfnahagskreppuren_US
dc.titleWill the Directive 2014/17/EU on mortgage credit protect consumers in the next economic and/or financial crisis?en_US
dc.typeinfo:eu-repo/semantics/articleen_US

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