Latest news - April 2012

19/4/2012 - Application of the Lagarde Laws in stores
One year after the entry into force of the Lagarde laws on the distribution of in-store credit, the UFC - Que Choisir has verified its application ... The result is not very good! The Lagarde laws oblige stores that distribute credit to make, for any amount greater than 999 us dollars, a revolving credit proposal AND a classic loan offer. Investigators visited 56 stores in the Nord Pas-de-Calais region. In 81% of cases, the store offered a store card and a promotional offer of the "free" or redeemable credit type. The store's card (associated with a revolving credit) is therefore always the key to obtaining credit, even classic. Once again a lot of noise during the implementation of laws ... but little effect in reality and especially no verification of the application of the texts of laws ...
Lois Lagarde
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4/16/2012 - Some figures to know ...
It has become fashionable to compare the economy of France to that of Germany. This is of course generally to the detriment of France, which is still doing less well than its main European partner. Always ? Not so sure ... According to the Foreign Trade Bank (ECB), the production of loans to households is largely positive in France and increased between the end of 2008 and 2011 by + 15.5%, while at the same time in Germany it increased. almost stagnated at + 1.7% ... For companies, the gap is even worse since in France we grew by 4.2% while our friends from across the Rhine fell by 4.3% .. Overall, loan production in Europe grew by + 7.1% for households and + 2.2% for businesses. Finally, France is not so bad at financing the economy and our banks have done their job. Just compare!
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4/11/2012 - Do you recommend your bank?
The Deloitte firm communicated on BFM radio the figures of a study on the recommendation rate of customers of online banks versus those of traditional banks ... Holders of an account opened in an online bank would recommend 70% their bank to those around them. These "happy" customers emphasize the simplicity of the offer, the extended hours of their advisor and above all the price of services and pricing. The leading online bank, ING Direct, announces more than 60,000 new customers each year. It is increasing the number of free services available to its customers, such as mobile applications for Iphone and Android. Other online banks are also seeing an increase in their clientele: monabanq, Boursorama ... On the side of "hard" banks, the situation is more mixed. Less than 30% of the customers of our traditional banks would be ready to recommend theirs ... and this even affects mutual banks. Consumers of traditional banks highlight the lack of transparency, complicated offers, and prices that are still too high. What is quite symptomatic of their strategy is that, even when traditional banks offer an online offer, they only lower prices over 1 year ... after all, it pays off again!
Online banking comparison
ING Direct offer
10/4/2012 - Revolving credit: the fall!
A study on renewable credits shows that they are on the decline, both in terms of subscriptions and uses. The Association Française des Banques sees this as one of the consequences of the Laws Lagarde. In 2011 the number of revolving accounts (ex-revolving accounts) opened decreased by 12% compared to 2010. This represents a figure of 600,000 openings lost! In addition, as the law allows, more consumers who already had a revolving account did not renew them ... Overall, compared to 2010, there are 2 million fewer renewable accounts in France ! The amount borrowed per revolving account is now an average of US $ 2,730, compared to US $ 3,250 a year earlier. This type of credit therefore finds its primary vocation today as a useful cash account to amortize passenger overdrafts and to finance small purchases. At the same time, the rate for revolving accounts is falling and the cheapest is 14.50% APR when the average was still 20% last year!
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How to end a revolving account?
3/4/2012 - the French automotive market: - 21.7%
In the first quarter of 2012, France recorded a decrease of 21.7% compared to 2011. It has been 15 years since the market was not so badly in shape. Last March, only 197,033 new vehicles were registered ... And among these vehicles, French cars tumbled even more than the market: - 33.2% for the PSA-Peugeot group and -29.8% for the Renault group (even Dacia cannot compensate for the group's losses this time). The main cause is the reference period: in the first quarter of 2011 the market still benefited from scrapping premiums. In fact, the premium was valid for vehicles delivered until March 31, 2012. In 2012, the premium was no longer supported, the market was no longer supported, it therefore returned to a "normal" level, lower than previously thought. The effect is identical to 1997 when the Juppé premium ended. For the consumer, this drop is a godsend because manufacturers must absolutely sell cars in stock. Promotional offers are multiplying: cheaper credits, options offered, recovery at the price of argus ...
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