Good Practices for Financial Consumer Protection

Good Practices for Financial Consumer Protection

Abstract

A strong consumer protection regime is key to ensuring that expanded access to financial services benefits consumers.

Over the past decade, financial consumer protection has become an increasingly mainstream priority for policymakers. A strong consumer protection regime is key to ensuring that expanded access to financial services benefits consumers, enabling them to make well-informed decisions on how best to use financial services, building trust in the formal financial sector, and contributing to healthy and competitive financial markets. The World Bank’s Good Practices for Financial Consumer Protection (the Good Practices) was developed in 2012 as a contribution to the emerging global set of tools on financial consumer protection. Since then, international guidance and country practices regarding financial consumer protection have substantially evolved. The 2017 Good Practices is designed to serve as a comprehensive reference and assessment tool for policymakers that consolidates the latest research, international guidance, and country examples. A thorough update of the previous edition, this guide expands upon priority areas such as supervisory techniques, effective disclosure, and digital finance, and also emphasizes the practical considerations and tradeoffs that policymakers face when implementing new policies and practices.

Full content of the publication

Tags

Consumer Protection Financial inclusion Financial inclusion Financial sector Financial sector development

Authors

Jennifer Chien

Denise Dias

Charles Michael Grist

Fiona Elizabeth Stewart

Richard L Sydmonds

Harish Natarajan

Marco Traversa

Siegfried Zottel

Peter Holtzer

Additional Information

Date published

01/12/2017

Document Type

Working paper

Geographies

Global

Target

Regulators, policymakers, banks

Pages

254

Source

World Bank
Logo World Bank

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