Solvency registers. A perspective taken from French Law

Abstract

In this article, the author examines the so-called FICP, the National Register of Repayment Defaults in loans to private individuals, created under French Law by Law 89-1010 of 31 December 1989. Specifically, the article analyses the report by the Special Commission, presided by M. Philippe Mariani, which was drawn up in conjunction with the bill giving rise to Law 2010-737 of 1 July (portant reforme du crédit á la consommation). This report took into account the Belgian experience, with their mixed public register (both negative and positive, with regard to repayment defaults and loans taken out). The author sets out the criticisms made by learned opinion concerning Law 2010-737, which improved the FICP but did not introduce a positive register, which was considered to be illogical in view of the duty incumbent on lenders to assess solvency. Finally, the article analyses Decision 2014-690 DC of 13 March 2014 of the French Constitutional Council, which holds that the attempt by Law 2014-344 of 17 March [relative á la consommation] to regulate a positive Register was unconstitutional, due to the disproportionate nature of the scale of the personal-data processing required compared to the aim being pursued (prevention of excessive private borrowing), deeming that this was an infringement of the right to respect for privacy.