Croatia : Diagnostic Review of Consumer Protection and Financial Literacy, Volume 2. Comparison against Good Practices
As financial markets develop and deepen, one of the key issues for a fair, open and efficient market is effective consumer protection and financial literacy. The European Union takes the approach that an effective regime of financial consumer prote...
| Main Author: | |
|---|---|
| Format: | Policy Note |
| Language: | English en_US |
| Published: |
Washington, DC
2014
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2010/02/16376854/croatia-diagnostic-review-consumer-protection-financial-literacy-vol-2-2 http://hdl.handle.net/10986/18474 |
| id |
okr-10986-18474 |
|---|---|
| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESSIBILITY ACCRUALS ADVERTISEMENT ADVERTISEMENTS AFFORDABILITY ALTERNATIVE FINANCING ANNUAL INTEREST RATE ANTI-MONEY LAUNDERING ATM ATM CARDS BANK ACCOUNT BANK CHARGES BANK CREDIT BANK CUSTOMERS BANK DEPOSITS BANK OFFICIALS BANK PRODUCTS BANKERS ASSOCIATIONS BANKING ASSOCIATIONS BANKING CUSTOMERS BANKING PRACTICES BANKING PRODUCTS BANKING SECTOR BANKING SERVICES BANKING SYSTEM BANKING SYSTEMS BANKS BEST PRACTICES BIG BANKS BORROWER BROCHURE BROCHURES BUSINESS ACTIVITIES BUSINESS ASSOCIATIONS CALCULATION CAPITAL MARKET CHECKS COLLATERAL COMMERCIAL BANKS COMPOUND INTEREST CONFLICT OF INTERESTS CONSUMER CONSUMER COMPLAINTS CONSUMER CONFIDENCE CONSUMER COUNSELING CONSUMER CREDIT CONSUMER INFORMATION CONSUMER ISSUES CONSUMER LITERACY CONSUMER PROTECTION CONSUMERS CONSUMERS ASSOCIATIONS COST OF CREDIT COURT SETTLEMENT CREDIT BUREAU CREDIT CARD CREDIT CARDS CREDIT EXPANSION CREDIT INFORMATION CREDIT INSTITUTION CREDIT INSTITUTIONS CREDIT PRODUCTS CREDIT REPORT CREDIT RISK CREDIT UNIONS CREDITOR CREDITORS CREDITS CREDITWORTHINESS CROATIAN NATIONAL BANK CURRENCY CURRENT ACCOUNT CURRENT ACCOUNTS DEBT DEBT COLLECTION DEBT COLLECTORS DEBTOR DEBTORS DEBTS DEPOSIT DEPOSIT ACCOUNT DEPOSIT ACCOUNTS DEPOSIT INSURANCE DEPOSITOR DEPOSITS DISCLOSURE OF INFORMATION DISPOSABLE INCOME DOMESTIC CURRENCY EMPLOYERS ENFORCEMENT AGENCIES ENTREPRENEURSHIP EXCHANGE RATE FEE INCOME FINANCIAL ACTIVITIES FINANCIAL ARRANGEMENT FINANCIAL CONSUMER FINANCIAL CONSUMERS FINANCIAL CRISIS FINANCIAL EDUCATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL ISSUES FINANCIAL LITERACY FINANCIAL LITERACY PROGRAM FINANCIAL LITERACY SURVEYS FINANCIAL MATTERS FINANCIAL PRODUCTS FINANCIAL REGULATORS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SERVICE FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL SYSTEM FOREIGN CURRENCY FOREIGN EXCHANGE FUND MANAGEMENT GENERAL PUBLIC GUARANTOR HOUSEHOLD DEBT HOUSEHOLD DEPOSITS HOUSEHOLD SAVINGS HOUSING HOUSING LOANS INACTIVE ACCOUNTS INDEBTEDNESS INFORMATION REQUIREMENTS INFORMATION SHARING INFORMATION SYSTEM INFORMATION TO CONSUMERS INFORMED DECISION INSTALLMENTS INSURANCE INSURANCE COMPANIES INSURANCE POLICIES INSURANCE POLICY INSURANCE PREMIUMS INSURANCE SCHEME INTEREST CHARGES INTEREST COSTS INTEREST PAYMENTS INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL FINANCIAL CRISIS INVESTMENT FUND INVESTMENT FUNDS INVESTMENT PRODUCTS LAWS LEGAL FRAMEWORK LEGAL PROVISION LEGAL PROVISIONS LEGAL RECOURSE LEGAL REQUIREMENT LEGAL REQUIREMENTS LEGISLATION LIABILITY LIFE INSURANCE LIFE INSURANCE PREMIUMS LINES OF CREDIT LOAN LOAN AMOUNT LOAN CONTRACT LOAN DEFAULT LOAN REPAYMENT MANDATES MANDATORY PENSION FUNDS MARKET COMPETITION MARKET CONCENTRATION MARKET PARTICIPANTS MARKET SHARE MARKET SIZE MARKETING MAXIMUM LOAN AMOUNT MINIMUM BALANCE MINIMUM PAYMENT MONIES MORTGAGE MORTGAGE LOAN MORTGAGE LOANS MORTGAGES NATIONAL BANK NOMINAL INTEREST RATE NOMINAL INTEREST RATES NONPERFORMING LOANS ONLINE CREDIT OPERATING INCOME OPERATING PERMITS OUTSTANDING BALANCE OVERDRAFT OVERDRAFT FACILITIES OVERDRAFTS PAYMENT SYSTEM PAYMENT SYSTEMS PENSION PENSION FUNDS PENSIONS PERSONAL FINANCE PERSONAL FINANCES PORTFOLIO PREDATORY LENDING PRESS CONFERENCES PRIVATE CREDIT PRIVATE PENSION PRIVATE PENSION FUNDS PRUDENTIAL REGULATION PUBLIC AWARENESS RATE OF INTEREST RECAPITALIZATION REPAYMENT REPAYMENT PERIODS RESERVES RESPONSIBILITIES SALARY SALE SALES SAVINGS SAVINGS BANKS SECURITIES SHARE OF ASSETS STOCK EXCHANGE TRANSACTION TYPES OF LOANS UNION VARIABLE INTEREST RATES VULNERABLE CONSUMERS VULNERABLE GROUPS |
| spellingShingle |
ACCESSIBILITY ACCRUALS ADVERTISEMENT ADVERTISEMENTS AFFORDABILITY ALTERNATIVE FINANCING ANNUAL INTEREST RATE ANTI-MONEY LAUNDERING ATM ATM CARDS BANK ACCOUNT BANK CHARGES BANK CREDIT BANK CUSTOMERS BANK DEPOSITS BANK OFFICIALS BANK PRODUCTS BANKERS ASSOCIATIONS BANKING ASSOCIATIONS BANKING CUSTOMERS BANKING PRACTICES BANKING PRODUCTS BANKING SECTOR BANKING SERVICES BANKING SYSTEM BANKING SYSTEMS BANKS BEST PRACTICES BIG BANKS BORROWER BROCHURE BROCHURES BUSINESS ACTIVITIES BUSINESS ASSOCIATIONS CALCULATION CAPITAL MARKET CHECKS COLLATERAL COMMERCIAL BANKS COMPOUND INTEREST CONFLICT OF INTERESTS CONSUMER CONSUMER COMPLAINTS CONSUMER CONFIDENCE CONSUMER COUNSELING CONSUMER CREDIT CONSUMER INFORMATION CONSUMER ISSUES CONSUMER LITERACY CONSUMER PROTECTION CONSUMERS CONSUMERS ASSOCIATIONS COST OF CREDIT COURT SETTLEMENT CREDIT BUREAU CREDIT CARD CREDIT CARDS CREDIT EXPANSION CREDIT INFORMATION CREDIT INSTITUTION CREDIT INSTITUTIONS CREDIT PRODUCTS CREDIT REPORT CREDIT RISK CREDIT UNIONS CREDITOR CREDITORS CREDITS CREDITWORTHINESS CROATIAN NATIONAL BANK CURRENCY CURRENT ACCOUNT CURRENT ACCOUNTS DEBT DEBT COLLECTION DEBT COLLECTORS DEBTOR DEBTORS DEBTS DEPOSIT DEPOSIT ACCOUNT DEPOSIT ACCOUNTS DEPOSIT INSURANCE DEPOSITOR DEPOSITS DISCLOSURE OF INFORMATION DISPOSABLE INCOME DOMESTIC CURRENCY EMPLOYERS ENFORCEMENT AGENCIES ENTREPRENEURSHIP EXCHANGE RATE FEE INCOME FINANCIAL ACTIVITIES FINANCIAL ARRANGEMENT FINANCIAL CONSUMER FINANCIAL CONSUMERS FINANCIAL CRISIS FINANCIAL EDUCATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL ISSUES FINANCIAL LITERACY FINANCIAL LITERACY PROGRAM FINANCIAL LITERACY SURVEYS FINANCIAL MATTERS FINANCIAL PRODUCTS FINANCIAL REGULATORS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SERVICE FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL SYSTEM FOREIGN CURRENCY FOREIGN EXCHANGE FUND MANAGEMENT GENERAL PUBLIC GUARANTOR HOUSEHOLD DEBT HOUSEHOLD DEPOSITS HOUSEHOLD SAVINGS HOUSING HOUSING LOANS INACTIVE ACCOUNTS INDEBTEDNESS INFORMATION REQUIREMENTS INFORMATION SHARING INFORMATION SYSTEM INFORMATION TO CONSUMERS INFORMED DECISION INSTALLMENTS INSURANCE INSURANCE COMPANIES INSURANCE POLICIES INSURANCE POLICY INSURANCE PREMIUMS INSURANCE SCHEME INTEREST CHARGES INTEREST COSTS INTEREST PAYMENTS INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL FINANCIAL CRISIS INVESTMENT FUND INVESTMENT FUNDS INVESTMENT PRODUCTS LAWS LEGAL FRAMEWORK LEGAL PROVISION LEGAL PROVISIONS LEGAL RECOURSE LEGAL REQUIREMENT LEGAL REQUIREMENTS LEGISLATION LIABILITY LIFE INSURANCE LIFE INSURANCE PREMIUMS LINES OF CREDIT LOAN LOAN AMOUNT LOAN CONTRACT LOAN DEFAULT LOAN REPAYMENT MANDATES MANDATORY PENSION FUNDS MARKET COMPETITION MARKET CONCENTRATION MARKET PARTICIPANTS MARKET SHARE MARKET SIZE MARKETING MAXIMUM LOAN AMOUNT MINIMUM BALANCE MINIMUM PAYMENT MONIES MORTGAGE MORTGAGE LOAN MORTGAGE LOANS MORTGAGES NATIONAL BANK NOMINAL INTEREST RATE NOMINAL INTEREST RATES NONPERFORMING LOANS ONLINE CREDIT OPERATING INCOME OPERATING PERMITS OUTSTANDING BALANCE OVERDRAFT OVERDRAFT FACILITIES OVERDRAFTS PAYMENT SYSTEM PAYMENT SYSTEMS PENSION PENSION FUNDS PENSIONS PERSONAL FINANCE PERSONAL FINANCES PORTFOLIO PREDATORY LENDING PRESS CONFERENCES PRIVATE CREDIT PRIVATE PENSION PRIVATE PENSION FUNDS PRUDENTIAL REGULATION PUBLIC AWARENESS RATE OF INTEREST RECAPITALIZATION REPAYMENT REPAYMENT PERIODS RESERVES RESPONSIBILITIES SALARY SALE SALES SAVINGS SAVINGS BANKS SECURITIES SHARE OF ASSETS STOCK EXCHANGE TRANSACTION TYPES OF LOANS UNION VARIABLE INTEREST RATES VULNERABLE CONSUMERS VULNERABLE GROUPS World Bank Croatia : Diagnostic Review of Consumer Protection and Financial Literacy, Volume 2. Comparison against Good Practices |
| geographic_facet |
Europe and Central Asia |
| description |
As financial markets develop and deepen,
one of the key issues for a fair, open and efficient market
is effective consumer protection and financial literacy. The
European Union takes the approach that an effective regime
of financial consumer protection should allow consumers to
have access to: sufficient information to make informed
decisions about their financial choices; cost-effective
recourse mechanisms to redress violations of financial
service contracts; and programs of consumer education and
financial literacy that empower them to understand their
financial rights and obligations. This review has found that
the quality of consumer protection in financial services in
Croatia has improved in recent years. In particular, the
approval of the 2007 Consumer Protection Act incorporated
many of the EU Directives related to financial consumer
protection. In addition, the National Council on Consumer
Protection was established in 2008 to advise the Government
on its national strategy for consumer protection in the
coming years. A nation-wide baseline survey of financial
literacy would provide useful information in designing
programs in financial education and consumer awareness. As
pioneered in the United Kingdom, financial literacy surveys
can identify which part of the population is most vulnerable
to financial abuse. The baseline survey should be segmented
by age, gender, geographic area, household income, and
formal education. After a period of three to five years, a
follow-up survey could be done to evaluate the effectiveness
of the programs of financial education and consumer awareness. |
| format |
Economic & Sector Work :: Policy Note |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Croatia : Diagnostic Review of Consumer Protection and Financial Literacy, Volume 2. Comparison against Good Practices |
| title_short |
Croatia : Diagnostic Review of Consumer Protection and Financial Literacy, Volume 2. Comparison against Good Practices |
| title_full |
Croatia : Diagnostic Review of Consumer Protection and Financial Literacy, Volume 2. Comparison against Good Practices |
| title_fullStr |
Croatia : Diagnostic Review of Consumer Protection and Financial Literacy, Volume 2. Comparison against Good Practices |
| title_full_unstemmed |
Croatia : Diagnostic Review of Consumer Protection and Financial Literacy, Volume 2. Comparison against Good Practices |
| title_sort |
croatia : diagnostic review of consumer protection and financial literacy, volume 2. comparison against good practices |
| publisher |
Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2010/02/16376854/croatia-diagnostic-review-consumer-protection-financial-literacy-vol-2-2 http://hdl.handle.net/10986/18474 |
| _version_ |
1764440795517026304 |
| spelling |
okr-10986-184742021-04-23T14:03:45Z Croatia : Diagnostic Review of Consumer Protection and Financial Literacy, Volume 2. Comparison against Good Practices World Bank ACCESSIBILITY ACCRUALS ADVERTISEMENT ADVERTISEMENTS AFFORDABILITY ALTERNATIVE FINANCING ANNUAL INTEREST RATE ANTI-MONEY LAUNDERING ATM ATM CARDS BANK ACCOUNT BANK CHARGES BANK CREDIT BANK CUSTOMERS BANK DEPOSITS BANK OFFICIALS BANK PRODUCTS BANKERS ASSOCIATIONS BANKING ASSOCIATIONS BANKING CUSTOMERS BANKING PRACTICES BANKING PRODUCTS BANKING SECTOR BANKING SERVICES BANKING SYSTEM BANKING SYSTEMS BANKS BEST PRACTICES BIG BANKS BORROWER BROCHURE BROCHURES BUSINESS ACTIVITIES BUSINESS ASSOCIATIONS CALCULATION CAPITAL MARKET CHECKS COLLATERAL COMMERCIAL BANKS COMPOUND INTEREST CONFLICT OF INTERESTS CONSUMER CONSUMER COMPLAINTS CONSUMER CONFIDENCE CONSUMER COUNSELING CONSUMER CREDIT CONSUMER INFORMATION CONSUMER ISSUES CONSUMER LITERACY CONSUMER PROTECTION CONSUMERS CONSUMERS ASSOCIATIONS COST OF CREDIT COURT SETTLEMENT CREDIT BUREAU CREDIT CARD CREDIT CARDS CREDIT EXPANSION CREDIT INFORMATION CREDIT INSTITUTION CREDIT INSTITUTIONS CREDIT PRODUCTS CREDIT REPORT CREDIT RISK CREDIT UNIONS CREDITOR CREDITORS CREDITS CREDITWORTHINESS CROATIAN NATIONAL BANK CURRENCY CURRENT ACCOUNT CURRENT ACCOUNTS DEBT DEBT COLLECTION DEBT COLLECTORS DEBTOR DEBTORS DEBTS DEPOSIT DEPOSIT ACCOUNT DEPOSIT ACCOUNTS DEPOSIT INSURANCE DEPOSITOR DEPOSITS DISCLOSURE OF INFORMATION DISPOSABLE INCOME DOMESTIC CURRENCY EMPLOYERS ENFORCEMENT AGENCIES ENTREPRENEURSHIP EXCHANGE RATE FEE INCOME FINANCIAL ACTIVITIES FINANCIAL ARRANGEMENT FINANCIAL CONSUMER FINANCIAL CONSUMERS FINANCIAL CRISIS FINANCIAL EDUCATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL ISSUES FINANCIAL LITERACY FINANCIAL LITERACY PROGRAM FINANCIAL LITERACY SURVEYS FINANCIAL MATTERS FINANCIAL PRODUCTS FINANCIAL REGULATORS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SERVICE FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL SYSTEM FOREIGN CURRENCY FOREIGN EXCHANGE FUND MANAGEMENT GENERAL PUBLIC GUARANTOR HOUSEHOLD DEBT HOUSEHOLD DEPOSITS HOUSEHOLD SAVINGS HOUSING HOUSING LOANS INACTIVE ACCOUNTS INDEBTEDNESS INFORMATION REQUIREMENTS INFORMATION SHARING INFORMATION SYSTEM INFORMATION TO CONSUMERS INFORMED DECISION INSTALLMENTS INSURANCE INSURANCE COMPANIES INSURANCE POLICIES INSURANCE POLICY INSURANCE PREMIUMS INSURANCE SCHEME INTEREST CHARGES INTEREST COSTS INTEREST PAYMENTS INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL FINANCIAL CRISIS INVESTMENT FUND INVESTMENT FUNDS INVESTMENT PRODUCTS LAWS LEGAL FRAMEWORK LEGAL PROVISION LEGAL PROVISIONS LEGAL RECOURSE LEGAL REQUIREMENT LEGAL REQUIREMENTS LEGISLATION LIABILITY LIFE INSURANCE LIFE INSURANCE PREMIUMS LINES OF CREDIT LOAN LOAN AMOUNT LOAN CONTRACT LOAN DEFAULT LOAN REPAYMENT MANDATES MANDATORY PENSION FUNDS MARKET COMPETITION MARKET CONCENTRATION MARKET PARTICIPANTS MARKET SHARE MARKET SIZE MARKETING MAXIMUM LOAN AMOUNT MINIMUM BALANCE MINIMUM PAYMENT MONIES MORTGAGE MORTGAGE LOAN MORTGAGE LOANS MORTGAGES NATIONAL BANK NOMINAL INTEREST RATE NOMINAL INTEREST RATES NONPERFORMING LOANS ONLINE CREDIT OPERATING INCOME OPERATING PERMITS OUTSTANDING BALANCE OVERDRAFT OVERDRAFT FACILITIES OVERDRAFTS PAYMENT SYSTEM PAYMENT SYSTEMS PENSION PENSION FUNDS PENSIONS PERSONAL FINANCE PERSONAL FINANCES PORTFOLIO PREDATORY LENDING PRESS CONFERENCES PRIVATE CREDIT PRIVATE PENSION PRIVATE PENSION FUNDS PRUDENTIAL REGULATION PUBLIC AWARENESS RATE OF INTEREST RECAPITALIZATION REPAYMENT REPAYMENT PERIODS RESERVES RESPONSIBILITIES SALARY SALE SALES SAVINGS SAVINGS BANKS SECURITIES SHARE OF ASSETS STOCK EXCHANGE TRANSACTION TYPES OF LOANS UNION VARIABLE INTEREST RATES VULNERABLE CONSUMERS VULNERABLE GROUPS As financial markets develop and deepen, one of the key issues for a fair, open and efficient market is effective consumer protection and financial literacy. The European Union takes the approach that an effective regime of financial consumer protection should allow consumers to have access to: sufficient information to make informed decisions about their financial choices; cost-effective recourse mechanisms to redress violations of financial service contracts; and programs of consumer education and financial literacy that empower them to understand their financial rights and obligations. This review has found that the quality of consumer protection in financial services in Croatia has improved in recent years. In particular, the approval of the 2007 Consumer Protection Act incorporated many of the EU Directives related to financial consumer protection. In addition, the National Council on Consumer Protection was established in 2008 to advise the Government on its national strategy for consumer protection in the coming years. A nation-wide baseline survey of financial literacy would provide useful information in designing programs in financial education and consumer awareness. As pioneered in the United Kingdom, financial literacy surveys can identify which part of the population is most vulnerable to financial abuse. The baseline survey should be segmented by age, gender, geographic area, household income, and formal education. After a period of three to five years, a follow-up survey could be done to evaluate the effectiveness of the programs of financial education and consumer awareness. 2014-06-04T21:28:49Z 2014-06-04T21:28:49Z 2010-02 http://documents.worldbank.org/curated/en/2010/02/16376854/croatia-diagnostic-review-consumer-protection-financial-literacy-vol-2-2 http://hdl.handle.net/10986/18474 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Economic & Sector Work :: Policy Note Economic & Sector Work Europe and Central Asia |