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Barnier backs standard loan presentations to consumers

By John Rega ( March 29, 2010, 16:25 GMT | Insight) -- The European Commission supports standardising how loans are presented to borrowers, internal-market chief Michel Barnier said in a letter that may presage initiatives in retail financial services. "The commission is strongly in favour of standardised presentation of information to encourage comparability and greater comprehension of loan product features by borrowers and is working towards this aim," the commissioner said in a letter to an MEP.The European Commission supports standardising how loans are presented to borrowers, internal-market chief Michel Barnier said in a letter that may presage initiatives in retail financial services....

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