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GROUP

ESTABLISHING AN ETHICS COMMITTEE

BNP PARIBAS HAS ANNOUNCED THE CREATION OF AN ETHICS COMMITTEE COMPOSED OF MEMBERS OF THE GROUP’S TOP MANAGEMENT AS WELL AS INDIVIDUALS FROM OUTSIDE THE BANK. THE COMMITTEE’S FUNCTION: ADVISE EXECUTIVE MANAGEMENT ON MATTERS OF ETHICS AND BUSINESS ACTIVITIES IN SENSITIVE SECTORS AND COUNTRIES.

GERMANY

CO-CONSTRUCTION

Consorsbank launched the “Wissen Community” at the end of 2014. On a collaborative website, clients can access information about the financial world and are invited to help build its future.

https://wissen.consorsbank.de/

Photo : SABINE ROSSIGNOL.

“SUPPORT FOR THE MOST VULNERABLE CUSTOMERS IS A STEP IN THE RIGHT DIRECTION”

INTERVIEW : SABINE ROSSIGNOL, LAWYER FOR ASSOCIATION LÉO LAGRANGE POUR LA DÉFENSE DES CONSOMMATEURS (ALLDC), FRANCE

What is your opinion of the approach adopted by BNP Paribas Personal Finance in terms of business ethics?

We have seen that efforts have been made to simplify customer information and to make it accessible in business and contractual documentation. Support for the most vulnerable customers, specifically via the overindebtedness division, is also a step in the right direction. But progress is still required in terms of training salespeople in business ethics. In addition, incentive-based business practices such as selling by phone, email or post, remain an area in which our association remains vigilant.

In your view, what could the next steps be?

We have seen continued problems relating to debt management. The priority target could thus be an improvement of the collection system: better dialogue between the debtor and the creditor/collection agency or the enhanced visibility of each of the players and their roles in the collection process.

As part of the transposition of the Directive on extra-judicial dispute settlement procedures of 21 May 2013, changes to the current internal mediation system used by BNP Paribas Personal Finance are required, for instance regarding competence, impartiality and independence. Finally, it may be appropriate to widen the “responsible credit” approach monitored by Vigeo as regards revolving credit to other products.

MORE ABOUT… ALLDC

BNP Paribas Personal Finance maintains a dialogue with many consumer groups, such as ALLDC, an accredited French consumer association which provides citizens with information, advice and legal assistance, negotiates the development of new standards, and takes part in information and prevention campaigns.