Financial Consumer Protection
INTRODUCTION
The global financial crisis highlighted the need for more effective financial consumer protection measures as consumers are challenged by increasingly sophisticated and complex financial markets. The avail-ability of information has grown both in terms of quantity and complexity, and the pace of change in new product developments, product innovations, and technological advances, has picked up significantly. Building and maintaining consumer confidence and trust in financial markets promotes efficiency and stability, and contributes to creating positive results for financial institutions and their customers alike.
Financial consumer protection encompasses the laws, regulations, and institutional arrangements that safeguard consumers in the financial marketplace. This section offers resources developed by our staff and partners that include technical guidance, country reports, and tools for policymakers, regulators, development partners and other experts.
Course Objectives:
- To promote fair and equitable financial services practices by setting minimum standards for financial services providers in dealing with consumers.
- To increase transparency in order to inform and empower consumers of financial services.
- To foster confidence in the financial services sector.
- To provide efficient and effective mechanisms for handling consumer complaints relating to the provision of financial products and services.