Financial services watchdog warns internet credit companies

Financial service sector watchdog AFM has ordered 39 out of 45 companies offering consumer credit online to improve the information on their websites.


A quick check of all 562 licenced credit companies in the EU revealed that more than two-thirds do not meet European guidelines on the provision of information, the Financieele Dagblad said.
The AFM declined to give any information about what shortfalls had been identified, the paper said. The firms have been given until January 20 to get their houses in order.
However, the AFM said it would only name names when handing out fines.

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