Consumer protection refers to rules and regulations designed to safeguard customers when they are dealing with financial service providers and to inspire confidence in these institutions. The implementation of consumer protection rules and practices is just beginning in many countries, although consumer protection has gained more prominence in recent years with the global financial crisis and concerns about over-indebtedness.
Transparency, fair treatment, and effective recourse are especially relevant for low-income consumers when it comes to consumer protection. Clients must be able to understand the implications of commitments they make; information must be presented clearly and simply; and there must be a satisfactory method in place for resolving conflicts or disputes.
Implementing consumer protection practices may take time and is likely to evolve as new risks are identified, consumer behavior is better understood, and effective regulatory design is implemented.
What can you find in this Topic Hub?
Curated by FinDev editors, this Topic Hub offers you access to key resources contributed by organizations around the world who work on the topic of consumer protection in financial inclusion. Our latest blogs and publications on this topic are featured here (in the Resources Tab above), and you can find a collection of papers, case studies and guides to explore further. When there are upcoming webinars, events and recent news on this topic, they will be featured in the Topic Hub as well, so make sure to come back regularly for the latest on this topic. Finally, we’ve selected some key additional resources, which are listed on the right here, where you can learn even more about this topic.
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The Smart Campaign's new standards and guidance for digital finance mark a profound shift for the sector - from a previous focus on staff behavior towards clients, to the increasing importance of product design and delivery, as well as data protection.
Recommendations for policy makers, regulators, and FSPs on how to focus on borrower’s needs without putting excessive stress on providers
News & Events
The latest news and upcoming events and training from the global financial inclusion community on this topic.