There is a new initiative “Call for EU legislation to encourage microcredit schemes“. One aim of the initiative is:
EU-wide framework on supervision and regulation
There also needs to be an EU-wide regulatory framework for non-bank providers of microcredit (banks are already covered by existing rules), defining them as non-deposit takers, with the ability to conduct credit only activities and to on-lend. There should be harmonised, risk-based rules on authorisation and supervision.
This would help p2p lending services.
Thank you to Peter Petrovics of Noba.hu for supplying the link.