Global Survey on Consumer Protection and Financial Literacy Results Brief : Regulatory Practices in 114 Economies

Financial consumer protection and financial education policies, in conjunction with the regulation of financial institutions and markets, need to ensure safe access to financial services and support financial stability and financial inclusion objec...

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Bibliographic Details
Main Author:	World Bank
Format:	Working Paper
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ADVERTISEMENTS ADVERTISING AFFORDABILITY ANNUAL INCOME ANNUAL PERCENTAGE RATE ANNUAL PERCENTAGE RATES APPLICATION FORM APR ASSET CLASS BANK CREDIT BANK POLICY BANKS BASIC FINANCIAL SERVICES BEHAVIORAL ECONOMICS BEST PRACTICES BIASES BORROWER BORROWING BUSINESSES CAPABILITIES CAPABILITY CAPITAL MARKETS CENTRAL BANK CENTRAL BANKS CHECKS CLASSROOM TRAINING COMPETITIVE FINANCIAL MARKETS CONFIDENTIALITY CONSUMER CONSUMER ABILITY CONSUMER CONFIDENCE CONSUMER CREDIT CONSUMER FINANCE CONSUMER FINANCIAL MARKETS CONSUMER LOANS CONSUMER PROTECTION CONSUMER PROTECTION LAW CONSUMER PROTECTION LAWS CONSUMER PROTECTION REGULATIONS CONSUMER RIGHTS CONSUMERS CONTACT POINT CONTRIBUTION CONTRIBUTIONS COORDINATION MECHANISMS COPYRIGHT CREDIT CARD CREDIT CARDS CREDIT INFORMATION CREDIT INFORMATION SYSTEM CREDIT LINE CREDIT PRODUCTS CREDIT PROVIDERS CREDIT RISK CUSTOMER DATA DEALING WITH BANKS DEBT DEBT SERVICE DEBTS DEPOSIT DEPOSIT PRODUCTS DEPOSITORS DISCLOSURE REQUIREMENTS DISPOSABLE INCOME DISPUTE RESOLUTION E-MAIL ECONOMIC SYSTEMS EDUCATIONAL MATERIALS EMPOWERMENT EXCHANGE RATE EXISTING DEBTS FAIR COMPETITION FEDERAL CONSUMER PROTECTION FEDERAL RESERVE FINANCIAL ACCESS FINANCIAL ADVICE FINANCIAL CHALLENGES FINANCIAL CONCEPTS FINANCIAL CONSUMER FINANCIAL CONSUMERS FINANCIAL CRISIS FINANCIAL DECISION FINANCIAL DEVELOPMENT FINANCIAL DISCLOSURE FINANCIAL EDUCATION FINANCIAL EDUCATION ACTIVITIES FINANCIAL EDUCATION EFFORTS FINANCIAL EDUCATION INITIATIVES FINANCIAL EDUCATION PROGRAMS FINANCIAL INDUSTRY FINANCIAL INSTABILITY FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL LITERACY FINANCIAL LITERACY MATERIAL FINANCIAL LITERACY TRAINING FINANCIAL MARKET FINANCIAL MARKETPLACE FINANCIAL MARKETS FINANCIAL PRODUCT FINANCIAL PRODUCTS FINANCIAL REGULATOR FINANCIAL REGULATORS FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTOR REGULATION FINANCIAL SECTORS FINANCIAL SERVICE FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES AUTHORITY FINANCIAL SERVICES PROVIDERS FINANCIAL STABILITY FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCIAL TERMS FINANCIAL TOPICS FINANCIAL TRANSACTIONS FOREIGN CURRENCY FORMAL FINANCIAL INSTITUTIONS FORMAL FINANCIAL SERVICES FRAUD GLOBAL MARKET GRAPHICS HOME BUYERS HOUSEHOLDS INCOME INCOME GROUPS INDEBTEDNESS INFORMAL PROVIDERS INFORMATION ASYMMETRIES INFORMED CHOICES INFORMED CONSUMERS INSPECTIONS INSURANCE INSURANCE COMPANIES INTEREST RATE INTEREST RATES INTERNATIONAL BANK LEGAL FRAMEWORK LEGAL FRAMEWORKS LENDER LENDERS LICENSE LICENSES LINES OF CREDIT LOAN LOAN APPLICANT LOAN CATEGORIES LOAN OFFICERS LOAN PERFORMANCE LOAN REPAYMENTS LOWER INCOME MARKET ECONOMIES MARKETING MASS MEDIA MICROFINANCE MICROFINANCE INSTITUTIONS MICROFINANCE LOANS MINIMUM BALANCE MONEY LENDING MONTHLY INCOME MORTGAGE MORTGAGE FINANCE MORTGAGE LENDING MORTGAGE LOANS MORTGAGE MARKET MORTGAGES OUTSTANDING BALANCE PDF PENSION PENSION FUNDS PENSIONERS PHOTOS POLICY FORMULATION PORTFOLIOS PREDATORY LENDING PRICE COMPARISON PRIVACY PRIVATE PENSIONS PROBABILITY PROTECTION OF CONSUMER PROVIDERS OF CREDIT PUBLIC AWARENESS PUBLIC POLICY PURCHASES QUERIES QUESTIONNAIRE QUESTIONNAIRES RAPID GROWTH REGISTRIES REGULATORY AUTHORITY REGULATORY PRACTICES REPAYMENT REPAYMENTS RESPONSIBILITIES RESULT RESULTS RETAIL FINANCIAL MARKETS RISK MANAGEMENT SALES SAVINGS SECURITIES SOCIAL PROTECTION SOURCE OF INCOME STAKEHOLDERS SUPERVISION SUPERVISIONS SUPERVISORY AGENCIES TELEPHONE TELEVISION TOTAL COST TRAINING MATERIALS TRANSACTION TRANSPARENCY USERS USES WEB WITHDRAWAL WWW
Online Access:	http://documents.worldbank.org/curated/en/2013/01/19692165/global-survey-consumer-protection-financial-literacy-vol-1-2-results-brief-regulatory-practices-114-economies http://hdl.handle.net/10986/18977

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Summary:	Financial consumer protection and financial education policies, in conjunction with the regulation of financial institutions and markets, need to ensure safe access to financial services and support financial stability and financial inclusion objectives. Consumer protection and financial literacy can contribute to improved efficiency, transparency, competition, and access to retail financial markets by reducing information asymmetries and power imbalances among providers and users of financial services. Rapid progress toward widespread financial inclusion must be appropriately complemented with checks and balances that ensure a responsible provision of financial services and products. A number of international efforts are in place to improve dialogue and identify best practices in financial consumer protection. To contribute to the international dialogue on financial consumer protection the World Bank in conjunction with Fin-CoNet, an international cooperation platform for supervisory agencies in the area of financial consumer protection, conducted a global survey on consumer protection and financial literacy to collect information from financial regulatory agencies in 114 economies. This brief summarizes the key results of the survey and accompanies the release of the data collected to provide timely feedback on the results.

Global Survey on Consumer Protection and Financial Literacy Results Brief : Regulatory Practices in 114 Economies

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