Global Survey on Consumer Protection and Financial Literacy : Oversight Frameworks and 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 FINANCIAL SERVICES ACCESSIBILITY ADMINISTRATIVE COSTS ADVERTISEMENT ADVERTISEMENTS AFFORDABILITY AMOUNT OF LOANS ANNUAL INCOME ANNUAL PERCENTAGE RATE ANNUAL PERCENTAGE RATES APPLICATION FORM APR ATM ATM NETWORK AWARENESS CAMPAIGNS BANK CREDIT BANK CUSTOMER BANKING PRODUCTS BANKS BASIC FINANCIAL SERVICES BEHAVIORAL ECONOMICS BEST PRACTICES BIASES BORROWER BORROWING CAPITAL MARKETS CENTRAL BANK CHECKS COMMERCIAL BANKS CONSUMER CONSUMER COMPLAINT CONSUMER CONFIDENCE CONSUMER CREDIT CONSUMER FINANCE CONSUMER FINANCIAL MARKETS CONSUMER LOANS CONSUMER PROTECTION CONSUMER PROTECTION LAW CONSUMER PROTECTION LAWS CONSUMER PROTECTION MEASURES CONSUMER RIGHTS CONSUMERS CONTRIBUTION CONTRIBUTIONS COOPERATIVE CREDIT COOPERATIVES COST OF CREDIT CREDIT ASSOCIATIONS CREDIT CARD CREDIT CARDS CREDIT INFORMATION CREDIT INFORMATION SYSTEM CREDIT INSTITUTIONS CREDIT PRODUCT CREDIT PRODUCTS CREDIT PROVIDERS CREDIT RISK CREDIT UNIONS CREDIT WORTHINESS CREDITOR CURRENCY CURRENT ACCOUNT DEALING WITH BANKS DEBT DEBT COLLECTION DEBT COLLECTOR DEBT SERVICE DEBTS DEPOSIT DEPOSIT INSURANCE DEPOSIT PRODUCTS DEPOSITORS DEVELOPMENT FINANCE DEVELOPMENT FINANCE INSTITUTIONS DISCLOSURE REQUIREMENTS DISCRIMINATION DISPOSABLE INCOME DISPUTE RESOLUTION ECONOMIC EMPOWERMENT ECONOMIC SYSTEM EXCHANGE COMMISSION EXCHANGE RATE EXISTING DEBTS FAIR TRADING FEDERAL RESERVE FINANCIAL ARRANGEMENTS FINANCIAL COMPANIES FINANCIAL CONCEPTS FINANCIAL CONSUMER FINANCIAL CONSUMERS FINANCIAL CRISIS FINANCIAL DECISION FINANCIAL DEVELOPMENT FINANCIAL DISCLOSURE FINANCIAL EDUCATION FINANCIAL EDUCATION ACTIVITIES FINANCIAL EDUCATION EFFORTS FINANCIAL GROUPS FINANCIAL INDUSTRY FINANCIAL INNOVATION FINANCIAL INSTABILITY FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL ISSUES FINANCIAL LITERACY FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL NEEDS FINANCIAL PRODUCT FINANCIAL PRODUCTS FINANCIAL PROVIDER FINANCIAL REGULATION FINANCIAL REGULATORS FINANCIAL SECTOR FINANCIAL SECTOR REGULATION FINANCIAL SECTORS FINANCIAL SERVICE FINANCIAL SERVICE PROVIDER FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL SERVICES AUTHORITY FINANCIAL SERVICES PROVIDERS FINANCIAL STABILITY FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCIAL TRANSACTION FIXED RATE FOREIGN CURRENCY FORMAL FINANCIAL INSTITUTIONS FORMAL FINANCIAL SERVICES GENERAL PUBLIC HOUSEHOLDS INCOME INCOME GROUPS INDEBTEDNESS INFORMATION ASYMMETRIES INFORMED CONSUMERS INFORMED DECISIONS INSURANCE INSURANCE COMPANIES INSURANCE POLICY INTEREST CHARGES INTEREST RATE INTEREST RATES INTERNATIONAL BANK INVESTMENT PRODUCTS LEGAL FRAMEWORK LENDER LENDER OF LAST RESORT LENDERS LIABILITY LOAN LOAN OFFICERS LOAN REPAYMENTS LONG-TERM SAVINGS MARKET ECONOMIES MICROFINANCE MICROFINANCE INSTITUTIONS MINIMUM BALANCE MODERN FINANCIAL SYSTEM MONETARY POLICY MONEY LENDING MORTGAGE MORTGAGE LENDING MORTGAGE LOANS MORTGAGE MARKETS MORTGAGES NATIONAL INSURANCE OUTSTANDING BALANCE PAYMENT SERVICES PENSION PRODUCTS PENSIONERS PENSIONS PREDATORY LENDING PRIVATE PENSION PRIVATE PENSION FUNDS PROTECTION OF CONSUMER PROVIDERS OF CREDIT PRUDENTIAL SUPERVISION PUBLIC AWARENESS PURCHASING POWER QUESTIONNAIRE QUESTIONNAIRES RAPID GROWTH REGULATORY AUTHORITY REGULATORY FRAMEWORK REPAYMENT REPAYMENTS RESERVE BANK RESPONSIBILITIES RETAIL BANKING RETAIL FINANCIAL MARKETS RETAIL FINANCIAL SERVICES RETIREMENT RETIREMENT SAVINGS RISK MANAGEMENT SALE SALES SAVINGS SECURITIES SOCIAL RESPONSIBILITY SOURCE OF INCOME STAKEHOLDERS SUPERVISORY AUTHORITY TOTAL COST TRAINING MATERIALS TRANSACTION UNIVERSAL FINANCIAL ACCESS UNREGULATED FINANCIAL INSTITUTIONS WITHDRAWAL
Online Access:	http://documents.worldbank.org/curated/en/2013/01/19691922/global-survey-consumer-protection-financial-literacy-vol-2-2-oversight-frameworks-practices-114-economies http://hdl.handle.net/10986/18978

Description
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 : Oversight Frameworks and Practices in 114 Economies

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