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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A new roadmap and certification program supports providers to implement client protection standards.
Consumer risks are increasing with the growth of digital finance and the COVID-19 pandemic. The resources in this FinDev Guide share good practices, solutions and tools to ensure that consumers achieve positive outcomes in their financial journey.
This toolkit is aimed at addressing the opportunities and challenges of using digital credit transaction data for consumer protection market monitoring.
This publication uncovers consumer risks arising from the rapidly digitizing G2P programs aimed at the most vulnerable in society, most of whom have no prior experience with digital technology or the formal financial system.
This study investigates three key barriers preventing many potential customers from joining the formal financial system: the reliability of financial services, the cost of using these services, and the limited transparency of cost information.
News & Events
The latest news and upcoming events and training from the global financial inclusion community on this topic.