Financial consumer protection encompasses the laws, regulations, and institutional arrangements that safeguard consumers in the financial marketplace. This section offers resources developed by our staff and partners that include technical guidance, country reports, and tools for policymakers, regulators, development partners and other experts.

  • Financial Consumer Protection and New Forms of Data Processing Beyond Credit Reporting

    New sources of data and new ways to process data have contributed to an ongoing expansion in the availability of digital financial services. Such data can be used to design and market customer-centric products, create credit scores for consumers with limited credit histories, meet and facilitate know-your-customer requirements, and minimize the risk of fraud. Yet a great variety of personal information may be processed in this context. This discussion note provides an overview of benefits and risks arising from the use of new types of data and identifies areas for further research.

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  • Developing and Operationalizing a National Financial Inclusion Strategy : Toolkit

    Developing a national financial inclusion strategy (NFIS) can help countries chart a clear and coordinated path toward greater financial inclusion. This toolkit provides practical guidance on developing and operationalizing a NFIS. The toolkit draws on over 20 country experiences and is informed by the World Bank Group’s role as a technical partner in NFIS development and operationalization in a diverse range of country contexts.

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  • From Spreadsheets to Suptech: Technology Solutions for Market Conduct Supervision

    Effective market conduct supervision is critical to ensuring that financial consumers are protected from unfair business practices and provided with clear information. This discussion note examines the use of Suptech (supervisory technology) solutions to improve market conduct supervision. It also provides case studies of Suptech applications in the U.S, Lithuania, and Brazil, and highlights the risks and challenges that may arise with Suptech.

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  • Developing a Key Facts Statement for Consumer Credit

    This technical note provides practical guidance to policy makers seeking to develop key facts statements (KFSs) for consumer credit products. Misleading or incomplete information on fees and risks can result in consumers choosing products not well-suited to their needs, potentially harmful to consumer welfare. KFSs provide key information on terms, conditions, fees, and total costs, in a clear standardized format. The note shares the key principles, international good practices, and lessons learned in developing KFSs that can help achieve better consumer comprehension.

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  • Global Financial Inclusion and Consumer Protection Survey, 2017 Report

    This report presents the main findings of the 2017 Global Financial Inclusion & Consumer Protection (FICP) Survey. The 2017 Global FICP Survey tracks the prevalence of key policy, legal, regulatory, and supervisory efforts to advance financial inclusion and financial consumer protection. Financial sector authorities in 124 jurisdictions - representing 141 economies and more than 90 percent of the world’s unbanked adult population - responded to the 2017 Global FICP Survey. See also: 2013 Global CPFL Survey (available below).

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  • Good Practices for Financial Consumer Protection, 2017 Edition

    Since the 2012 edition (available below), international guidance and country practices regarding financial consumer protection have substantially evolved. The 2017 Good Practices is a comprehensive reference and assessment tool for policymakers that consolidates the latest research, international guidance, and country examples. A thorough update of the previous edition, this guide emphasizes implementation aspects and expands upon priority areas such as supervisory techniques, effective disclosure, and digital finance.

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  • G20 GPFI Technical Note on Institutional Arrangements for Financial Consumer Protection

    Institutional arrangements are one of the key determinants of efficiency and ultimate success of any framework for financial consumer protection (FCP). This note is intended to assist policymakers, regulators, and supervisors seeking to establish new institutional arrangements or strengthen the existing ones in their respective countries. The note discusses importance of FCP, main models around the world, their advantages and disadvantages, as well as principal challenges faced by FCP agencies.

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  • Global Mapping of Financial Consumer Protection and Financial Literacy Initiatives

    This overview of consumer protection and financial literacy (CPFL) initiatives lists the international organizations, development banks, bilateral donors, support networks and associations, and private foundations that actively pursue development and strengthening of CPFL frameworks around the globe. In each case, we attempt to provide specifics on the scope of policy work, committed resources, and key results achieved so far.

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  • Establishing a Financial Consumer Protection Supervision Department - Lessons from Five Countries

    This technical note assists regulators seeking to establish a financial consumer protection supervision department within the main financial regulatory body of a country. The note provides concrete, practical information and lessons drawn from the experiences of five countries: Armenia, the Czech Republic, Ireland, Peru, and Portugal. It covers topics such as supervisory agenda, organizational structure, supervisory activities, relationship with prudential supervision, and staffing needs. Also available: Russian version.

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  • Global Survey on Consumer Protection and Financial Literacy - Oversight Frameworks and Practices in 114 Economies

    This report summarizes the results of the Global Survey on Consumer Protection and Financial Literacy conducted by the World Bank in 2013. The survey assessed the global status of financial consumer protection regulation and oversight frameworks in line with the G20 Principles and World Bank Good Practices. Using the data from an earlier survey completed in 2010, the report evaluates progress in a number of areas. In contrast with the previous limited Results Brief, this expanded version has additional analysis, and contains the survey data tables as annexes.

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  • Global Survey on Consumer Protection and Financial Literacy - Results Brief

    This limited Results Brief outlines the findings of the Global Survey on the financial consumer protection legal and institutional arrangements in relation to deposit and credit services in 114 countries. The full report, Global Survey on Consumer Protection and Financial Literacy - Oversight Frameworks and Practices in 114 Economies (PDF), provides additional analysis and contains the survey data tables as annexes.

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  • Public Sector Operated Price Comparison Websites

    This technical note is intended to provide regulators with concrete, practical information on operating price-comparison websites and the strategic considerations necessary to take into account when designing such sites. The technical note examines price-comparison websites operated by public sector entities in Canada, Hungary, Ireland, Malaysia, Mexico, Norway, and the United Kingdom.

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  • Good Practices for Financial Consumer Protection

    The World Bank's Good Practices (2012) provide a comprehensive diagnostic tool to help identify the consumer protection issues in all parts of the financial sector. They are based on international benchmarks, such as the principles released by the Basel Committee, IOSCO and IAIS, and OECD recommendations as well as directives, laws, regulations and codes of business practices from countries worldwide. Also available: Spanish version (PDF)

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  • Market Conduct Supervision in Small Countries: The case of Armenia

    This technical note provides a case study on institutional arrangements for market conduct supervision in Armenia including lessons learned for small economies. It describes how market conduct supervision is organized within the Central Bank of Armenia, what supervisory tools are being used and how they are applied as well as enforcement actions taken. Finally lessons learned and challenges are presented based on the Armenian experience.

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  • Resolving Disputes between Consumers and Financial Businesses - Volume 1: Fundamentals

    Financial ombudsmen can help increase consumer confidence in financial services, and hence also benefit financial businesses by helping markets to improve and grow. This report outlines the fundamentals for the creation of an independent and effective financial ombudsman. It describes how financial ombudsmen have grown in the developed financial market of Western Europe, and provides case studies.

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  • Improving Protection in Financial Services for Bulgarian Consumers - ECA Knowledge Brief Volume 52

    Optimal consumer protection in financial services and high consumer financial capability are at the heart of a financial sector in Bulgaria that aims to be effective, competitive, and fair. This brief details the policy revisions in Bulgaria that resulted from the World Bank's 2009 report and 2010 survey.

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