Conference on Personal Insolvency – European Parliament – 7 Dec 2016

[This page was originally published on www.fininc.eu. To learn more about the transfer of EFIN’s activities to Finance Watch, read our press release]

Organised at the EU Parliament, the conference had allowed participants to learn more about the EU initiative on Personal Insolvency on the one hand, and on the potential strategy to elaborate on the appropriate use by the Financial industry of the Big Data, for a so called “Financial inclusion”. The European Banking Authority presented its position and understanding of the issue. The next step are not so much defined so far. Then, Anne Fily (BEUC, EFIN) presented a specific project to guarantee, from a consumer perspective, the benefit of big data and new analytics and the benefit of keeping the control on his personal data in the creditworthiness issue.

Introduction : Documentation and researches on the over-indebtedness and effective good practices

Mr. Olivier Jérusalmy, European Financial Inclusion Network (EFIN) director:

Presentation of the 3 latest  research papers on insolvency issues for individuals .ppt

Direct access to the 3 working papers

– Indicators to monitor over-indebtedness

– Early detection and Friendly management of Financial difficulties

– Unfair lending practices and toxic products

Keynote speech :

Mr. Maxime Pekkip – Crésus France (EFIN member) –

The cost of over-indebtedness and the importance of prevention and early detection – A case study

Panel 1: Personal Insolvency, a harmonised view for Europe?

Mr Renatas Mazeika, Head of Unit E1 ‘Consumer policy’. Presentation of the EU Commission initiative on Personal Insolvency (no .ppt available)

How this initiative can improve the situation of individuals in the Member States? What more is needed?

Mr. Richard Alström (EFIN member)- Sweden – Former Director of The Department of Health and Welfare studies at Malmoe University: What elements are needed in the insolvency proceeding to achieve rehabilitation?

Panel 2: Creditworthiness assessment and big data: is it the end of privacy?

Mrs.Rita Bairros, Consumer Protection, Financial Innovation and Payments, European Banking Authority, Innovative use of Consumer personal data

Personal data: what is the problem, if any?

Mr. Martin Schmalzried: COFACE (EFIN Member)- Confederation of Family Organisations in the EU – What issues still need to be resolved with legislation?

Mr. Paul Anthony Jones (EFIN member): – Head of the Research Unit for Financial Inclusion (RUFI) in the Faculty of Education, Health and Community at Liverpool John Moores University – The problems linked to big data exploitation in the UK and vulnerable/ financially excluded people.

Mr. Jan Albrecht, MEP, Greens: EP work on big data and private life (no .ppt)

Solution to be found in innovation?

A important role for Consumer and Citizen organisations…

How innovation can reconcile data analysis and privacy? (ppt)

Mrs. Anne Fily, BEUC, EFIN Chairman