Cetelem, the consumer finance
subsidiary of BNP Paribas (BNPP), has launched a free credit advice
service for all French consumers, including non-customers of BNPP,
to promote the “responsible” use of credit and improve financial
literacy. The service is available by telephone and online, via a
dedicated website at www.moncreditresponsable.com and is, says the
consumer finance division, a first in the French market.
The new offering has been flagged up by a
series of press and online advertisements, highlighting the
availability of free, impartial advice on consumer credit.
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According to the bank, the need for such a
service was evidenced by the findings of a poll commissioned by the
bank, which found that only 27 percent of those questioned found
the information readily available on consumer credit sufficiently
understandable.
Cetelem says it prides itself on taking a
number of initiatives to promote responsible lending: since 2004 it
has published its refusal rate (32 percent in 2008) for loan
applications.
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