Croatia : Diagnostic Review of Consumer Protection and Financial Literacy, Volume 1. Key Findings and Recommendations
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...
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| Format: | Policy Note |
| Language: | English en_US |
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Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2010/02/16376817/croatia-diagnostic-review-consumer-protection-financial-literacy-vol-1-2 http://hdl.handle.net/10986/18488 |
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okr-10986-18488 |
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| recordtype |
oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO CREDIT ACCURATE INFORMATION ADVERTISEMENTS ANNUAL INTEREST RATE ANNUAL PERCENTAGE RATE ANNUAL RETURN APR ATM AUTOMATIC TELLER BANK ACCOUNT BANK CREDIT BANK LENDING BANK LOANS BANK PRODUCTS BANKING INDUSTRY BANKING PRODUCTS BANKS BASIC FINANCIAL SERVICES BEST PRACTICES BORROWER BROCHURES BUDGETING CALCULATION CAPITAL MARKET CAPITAL MARKETS CHAMBERS OF COMMERCE COMMERCIAL BANK COMMERCIAL BANKS COMPARISONS OF LOAN CONSUMER CONSUMER COMPLAINTS CONSUMER COUNSELING CONSUMER CREDIT CONSUMER CREDITS CONSUMER EDUCATION CONSUMER FINANCE CONSUMER GOODS CONSUMER LENDING CONSUMER LOAN CONSUMER LOANS CONSUMER ORGANIZATIONS CONSUMER PROTECTION CONSUMER PROTECTION LAWS CONSUMER RIGHTS CONSUMER UNDERSTANDING CONSUMERS CONTRIBUTIONS CREDIT BUREAU CREDIT BUREAUS CREDIT CARD CREDIT HISTORIES CREDIT INSTITUTIONS CREDIT PRODUCTS CREDIT RECORD CREDIT REPORT CREDIT RISK CREDIT SCORES CREDIT SCORING CREDITORS CURRENT ACCOUNT DEBT DEBT COLLECTION DEBTOR DEBTORS DELINQUENCY DELINQUENCY RATES DEPOSIT DEPOSIT INSURANCE DEPOSIT PRODUCTS DEPOSITS DISPOSABLE INCOME DOMESTIC CURRENCY DURABLE GOOD EXCHANGE RATES FAMILY MEMBERS FEDERAL RESERVE FINANCE COMPANIES FINANCE COMPANY FINANCIAL ABUSE FINANCIAL ACTIVITIES FINANCIAL AGENCY FINANCIAL BEHAVIOR FINANCIAL CONSUMER FINANCIAL CONSUMERS FINANCIAL CRISIS FINANCIAL CUSTOMERS FINANCIAL DECISIONS FINANCIAL EDUCATION FINANCIAL EDUCATION PROGRAMS FINANCIAL EXPERIENCE FINANCIAL GROUP FINANCIAL HEALTH FINANCIAL INDUSTRY FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIARIES FINANCIAL INVESTMENTS FINANCIAL ISSUES FINANCIAL LITERACY FINANCIAL LITERACY PROGRAMS FINANCIAL LITERACY SURVEYS FINANCIAL MARKETS FINANCIAL OPTIONS FINANCIAL PRACTICES FINANCIAL PRODUCT FINANCIAL PRODUCTS FINANCIAL PROFESSIONAL FINANCIAL REGULATORS FINANCIAL RESPONSIBILITY FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SERVICE FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL SERVICES AUTHORITY FINANCIAL SERVICES INDUSTRY FINANCIAL SERVICES PROVIDERS FINANCIAL STABILITY FINANCIAL SYSTEM FINANCIAL SYSTEMS FOREIGN CURRENCIES FOREIGN CURRENCY FORMAL EDUCATION GOOD CREDIT HEALTH INSURANCE HIGH SCHOOL STUDENTS HOUSEHOLD DEBT HOUSEHOLD FINANCES HOUSEHOLD INCOME INDEBTEDNESS INDIVIDUAL ACCOUNTS INFORMATION SYSTEM INFORMED DECISIONS INSURANCE INSURANCE COMPANIES INSURANCE POLICIES INSURANCE POLICY INTEREST CHARGES INTEREST RATES INVESTMENT ADVISOR INVESTMENT ADVISORS INVESTMENT FIRM INVESTMENT FIRMS INVESTMENT PRODUCT INVESTMENT RETURNS INVESTMENT STRATEGIES LEGAL RECOURSE LENDER LENDERS LIABILITY LIFE INSURANCE LITERACY PROGRAM LOAN LOAN AMOUNT LOAN APPLICATIONS LOCAL CURRENCY LONG-TERM FINANCIAL PLANS LONG-TERM SAVINGS LOW COST LOW-INCOME MARKET PARTICIPANTS MARKETING MEDIA CAMPAIGN MONTHLY PAYMENTS MORTGAGE MORTGAGE FINANCE MORTGAGE LOAN MORTGAGE LOANS MORTGAGES NATIONAL BANK PARENT COMPANY PENALTY FEES PENSION PENSION FUND PENSION FUNDS PENSION PRODUCTS PENSION SECTORS PENSION SYSTEM PENSIONERS PENSIONS PERSONAL FINANCIAL INFORMATION POOR FINANCIAL LITERACY PREDATORY LENDING PRIVATE PENSIONS PROFESSIONAL ASSOCIATION PROFESSIONAL ASSOCIATIONS PUBLIC GOOD PUBLIC-PRIVATE PARTNERSHIP PURCHASES REPAYMENT RESPONSIBILITIES RETAIL FINANCIAL SERVICES RETIRED RETIREMENT RETIREMENT INCOME RISK MANAGEMENT SALARY SALE SALES SAVINGS FOR RETIREMENT SAVINGS GOALS SCAMS SECURITIES SENIOR SERVICES FOR LOW-INCOME HOUSEHOLDS SHARE PRICES STAKEHOLDERS STOCK EXCHANGE STOCKS TAX LAWS TERM CONTRACT TIMELY PAYMENTS TOTAL COSTS TRANSACTION TYPES OF INVESTMENTS TYPES OF LOANS UNION VALUABLE |
| spellingShingle |
ACCESS TO CREDIT ACCURATE INFORMATION ADVERTISEMENTS ANNUAL INTEREST RATE ANNUAL PERCENTAGE RATE ANNUAL RETURN APR ATM AUTOMATIC TELLER BANK ACCOUNT BANK CREDIT BANK LENDING BANK LOANS BANK PRODUCTS BANKING INDUSTRY BANKING PRODUCTS BANKS BASIC FINANCIAL SERVICES BEST PRACTICES BORROWER BROCHURES BUDGETING CALCULATION CAPITAL MARKET CAPITAL MARKETS CHAMBERS OF COMMERCE COMMERCIAL BANK COMMERCIAL BANKS COMPARISONS OF LOAN CONSUMER CONSUMER COMPLAINTS CONSUMER COUNSELING CONSUMER CREDIT CONSUMER CREDITS CONSUMER EDUCATION CONSUMER FINANCE CONSUMER GOODS CONSUMER LENDING CONSUMER LOAN CONSUMER LOANS CONSUMER ORGANIZATIONS CONSUMER PROTECTION CONSUMER PROTECTION LAWS CONSUMER RIGHTS CONSUMER UNDERSTANDING CONSUMERS CONTRIBUTIONS CREDIT BUREAU CREDIT BUREAUS CREDIT CARD CREDIT HISTORIES CREDIT INSTITUTIONS CREDIT PRODUCTS CREDIT RECORD CREDIT REPORT CREDIT RISK CREDIT SCORES CREDIT SCORING CREDITORS CURRENT ACCOUNT DEBT DEBT COLLECTION DEBTOR DEBTORS DELINQUENCY DELINQUENCY RATES DEPOSIT DEPOSIT INSURANCE DEPOSIT PRODUCTS DEPOSITS DISPOSABLE INCOME DOMESTIC CURRENCY DURABLE GOOD EXCHANGE RATES FAMILY MEMBERS FEDERAL RESERVE FINANCE COMPANIES FINANCE COMPANY FINANCIAL ABUSE FINANCIAL ACTIVITIES FINANCIAL AGENCY FINANCIAL BEHAVIOR FINANCIAL CONSUMER FINANCIAL CONSUMERS FINANCIAL CRISIS FINANCIAL CUSTOMERS FINANCIAL DECISIONS FINANCIAL EDUCATION FINANCIAL EDUCATION PROGRAMS FINANCIAL EXPERIENCE FINANCIAL GROUP FINANCIAL HEALTH FINANCIAL INDUSTRY FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIARIES FINANCIAL INVESTMENTS FINANCIAL ISSUES FINANCIAL LITERACY FINANCIAL LITERACY PROGRAMS FINANCIAL LITERACY SURVEYS FINANCIAL MARKETS FINANCIAL OPTIONS FINANCIAL PRACTICES FINANCIAL PRODUCT FINANCIAL PRODUCTS FINANCIAL PROFESSIONAL FINANCIAL REGULATORS FINANCIAL RESPONSIBILITY FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SERVICE FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL SERVICES AUTHORITY FINANCIAL SERVICES INDUSTRY FINANCIAL SERVICES PROVIDERS FINANCIAL STABILITY FINANCIAL SYSTEM FINANCIAL SYSTEMS FOREIGN CURRENCIES FOREIGN CURRENCY FORMAL EDUCATION GOOD CREDIT HEALTH INSURANCE HIGH SCHOOL STUDENTS HOUSEHOLD DEBT HOUSEHOLD FINANCES HOUSEHOLD INCOME INDEBTEDNESS INDIVIDUAL ACCOUNTS INFORMATION SYSTEM INFORMED DECISIONS INSURANCE INSURANCE COMPANIES INSURANCE POLICIES INSURANCE POLICY INTEREST CHARGES INTEREST RATES INVESTMENT ADVISOR INVESTMENT ADVISORS INVESTMENT FIRM INVESTMENT FIRMS INVESTMENT PRODUCT INVESTMENT RETURNS INVESTMENT STRATEGIES LEGAL RECOURSE LENDER LENDERS LIABILITY LIFE INSURANCE LITERACY PROGRAM LOAN LOAN AMOUNT LOAN APPLICATIONS LOCAL CURRENCY LONG-TERM FINANCIAL PLANS LONG-TERM SAVINGS LOW COST LOW-INCOME MARKET PARTICIPANTS MARKETING MEDIA CAMPAIGN MONTHLY PAYMENTS MORTGAGE MORTGAGE FINANCE MORTGAGE LOAN MORTGAGE LOANS MORTGAGES NATIONAL BANK PARENT COMPANY PENALTY FEES PENSION PENSION FUND PENSION FUNDS PENSION PRODUCTS PENSION SECTORS PENSION SYSTEM PENSIONERS PENSIONS PERSONAL FINANCIAL INFORMATION POOR FINANCIAL LITERACY PREDATORY LENDING PRIVATE PENSIONS PROFESSIONAL ASSOCIATION PROFESSIONAL ASSOCIATIONS PUBLIC GOOD PUBLIC-PRIVATE PARTNERSHIP PURCHASES REPAYMENT RESPONSIBILITIES RETAIL FINANCIAL SERVICES RETIRED RETIREMENT RETIREMENT INCOME RISK MANAGEMENT SALARY SALE SALES SAVINGS FOR RETIREMENT SAVINGS GOALS SCAMS SECURITIES SENIOR SERVICES FOR LOW-INCOME HOUSEHOLDS SHARE PRICES STAKEHOLDERS STOCK EXCHANGE STOCKS TAX LAWS TERM CONTRACT TIMELY PAYMENTS TOTAL COSTS TRANSACTION TYPES OF INVESTMENTS TYPES OF LOANS UNION VALUABLE World Bank Croatia : Diagnostic Review of Consumer Protection and Financial Literacy, Volume 1. Key Findings and Recommendations |
| 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 1. Key Findings and Recommendations |
| title_short |
Croatia : Diagnostic Review of Consumer Protection and Financial Literacy, Volume 1. Key Findings and Recommendations |
| title_full |
Croatia : Diagnostic Review of Consumer Protection and Financial Literacy, Volume 1. Key Findings and Recommendations |
| title_fullStr |
Croatia : Diagnostic Review of Consumer Protection and Financial Literacy, Volume 1. Key Findings and Recommendations |
| title_full_unstemmed |
Croatia : Diagnostic Review of Consumer Protection and Financial Literacy, Volume 1. Key Findings and Recommendations |
| title_sort |
croatia : diagnostic review of consumer protection and financial literacy, volume 1. key findings and recommendations |
| publisher |
Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2010/02/16376817/croatia-diagnostic-review-consumer-protection-financial-literacy-vol-1-2 http://hdl.handle.net/10986/18488 |
| _version_ |
1764440804682629120 |
| spelling |
okr-10986-184882021-04-23T14:03:45Z Croatia : Diagnostic Review of Consumer Protection and Financial Literacy, Volume 1. Key Findings and Recommendations World Bank ACCESS TO CREDIT ACCURATE INFORMATION ADVERTISEMENTS ANNUAL INTEREST RATE ANNUAL PERCENTAGE RATE ANNUAL RETURN APR ATM AUTOMATIC TELLER BANK ACCOUNT BANK CREDIT BANK LENDING BANK LOANS BANK PRODUCTS BANKING INDUSTRY BANKING PRODUCTS BANKS BASIC FINANCIAL SERVICES BEST PRACTICES BORROWER BROCHURES BUDGETING CALCULATION CAPITAL MARKET CAPITAL MARKETS CHAMBERS OF COMMERCE COMMERCIAL BANK COMMERCIAL BANKS COMPARISONS OF LOAN CONSUMER CONSUMER COMPLAINTS CONSUMER COUNSELING CONSUMER CREDIT CONSUMER CREDITS CONSUMER EDUCATION CONSUMER FINANCE CONSUMER GOODS CONSUMER LENDING CONSUMER LOAN CONSUMER LOANS CONSUMER ORGANIZATIONS CONSUMER PROTECTION CONSUMER PROTECTION LAWS CONSUMER RIGHTS CONSUMER UNDERSTANDING CONSUMERS CONTRIBUTIONS CREDIT BUREAU CREDIT BUREAUS CREDIT CARD CREDIT HISTORIES CREDIT INSTITUTIONS CREDIT PRODUCTS CREDIT RECORD CREDIT REPORT CREDIT RISK CREDIT SCORES CREDIT SCORING CREDITORS CURRENT ACCOUNT DEBT DEBT COLLECTION DEBTOR DEBTORS DELINQUENCY DELINQUENCY RATES DEPOSIT DEPOSIT INSURANCE DEPOSIT PRODUCTS DEPOSITS DISPOSABLE INCOME DOMESTIC CURRENCY DURABLE GOOD EXCHANGE RATES FAMILY MEMBERS FEDERAL RESERVE FINANCE COMPANIES FINANCE COMPANY FINANCIAL ABUSE FINANCIAL ACTIVITIES FINANCIAL AGENCY FINANCIAL BEHAVIOR FINANCIAL CONSUMER FINANCIAL CONSUMERS FINANCIAL CRISIS FINANCIAL CUSTOMERS FINANCIAL DECISIONS FINANCIAL EDUCATION FINANCIAL EDUCATION PROGRAMS FINANCIAL EXPERIENCE FINANCIAL GROUP FINANCIAL HEALTH FINANCIAL INDUSTRY FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIARIES FINANCIAL INVESTMENTS FINANCIAL ISSUES FINANCIAL LITERACY FINANCIAL LITERACY PROGRAMS FINANCIAL LITERACY SURVEYS FINANCIAL MARKETS FINANCIAL OPTIONS FINANCIAL PRACTICES FINANCIAL PRODUCT FINANCIAL PRODUCTS FINANCIAL PROFESSIONAL FINANCIAL REGULATORS FINANCIAL RESPONSIBILITY FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SERVICE FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL SERVICES AUTHORITY FINANCIAL SERVICES INDUSTRY FINANCIAL SERVICES PROVIDERS FINANCIAL STABILITY FINANCIAL SYSTEM FINANCIAL SYSTEMS FOREIGN CURRENCIES FOREIGN CURRENCY FORMAL EDUCATION GOOD CREDIT HEALTH INSURANCE HIGH SCHOOL STUDENTS HOUSEHOLD DEBT HOUSEHOLD FINANCES HOUSEHOLD INCOME INDEBTEDNESS INDIVIDUAL ACCOUNTS INFORMATION SYSTEM INFORMED DECISIONS INSURANCE INSURANCE COMPANIES INSURANCE POLICIES INSURANCE POLICY INTEREST CHARGES INTEREST RATES INVESTMENT ADVISOR INVESTMENT ADVISORS INVESTMENT FIRM INVESTMENT FIRMS INVESTMENT PRODUCT INVESTMENT RETURNS INVESTMENT STRATEGIES LEGAL RECOURSE LENDER LENDERS LIABILITY LIFE INSURANCE LITERACY PROGRAM LOAN LOAN AMOUNT LOAN APPLICATIONS LOCAL CURRENCY LONG-TERM FINANCIAL PLANS LONG-TERM SAVINGS LOW COST LOW-INCOME MARKET PARTICIPANTS MARKETING MEDIA CAMPAIGN MONTHLY PAYMENTS MORTGAGE MORTGAGE FINANCE MORTGAGE LOAN MORTGAGE LOANS MORTGAGES NATIONAL BANK PARENT COMPANY PENALTY FEES PENSION PENSION FUND PENSION FUNDS PENSION PRODUCTS PENSION SECTORS PENSION SYSTEM PENSIONERS PENSIONS PERSONAL FINANCIAL INFORMATION POOR FINANCIAL LITERACY PREDATORY LENDING PRIVATE PENSIONS PROFESSIONAL ASSOCIATION PROFESSIONAL ASSOCIATIONS PUBLIC GOOD PUBLIC-PRIVATE PARTNERSHIP PURCHASES REPAYMENT RESPONSIBILITIES RETAIL FINANCIAL SERVICES RETIRED RETIREMENT RETIREMENT INCOME RISK MANAGEMENT SALARY SALE SALES SAVINGS FOR RETIREMENT SAVINGS GOALS SCAMS SECURITIES SENIOR SERVICES FOR LOW-INCOME HOUSEHOLDS SHARE PRICES STAKEHOLDERS STOCK EXCHANGE STOCKS TAX LAWS TERM CONTRACT TIMELY PAYMENTS TOTAL COSTS TRANSACTION TYPES OF INVESTMENTS TYPES OF LOANS UNION VALUABLE 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. 2014-06-05T15:51:31Z 2014-06-05T15:51:31Z 2010-02 http://documents.worldbank.org/curated/en/2010/02/16376817/croatia-diagnostic-review-consumer-protection-financial-literacy-vol-1-2 http://hdl.handle.net/10986/18488 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 |