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.
Do you have a resource on consumer protection that should be included on FinDev Gateway?
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.
Through this research, beneficiaries and agents respond to Indonesia’s largest cash transfer program as it pivots to provide COVID-19 emergency aid.
Based on a survey with 36 members of Consumers International from 32 low- and middle-income countries this report highlights key approaches that consumer associations can use to advocate for better financial consumer protection.
This paper explores the potential impact of incorporating the collective voice of consumers into financial sector policy and regulation, and opportunities for funders to help elevate these voices.
News & Events
The latest news and upcoming events and training from the global financial inclusion community on this topic.