Implementing Consumer Protection in Emerging Markets and Developing Economies : A Technical Guide for Bank Supervisors
Financial consumer protection regulation reflects the regulator's and policy makers' concerns with the relationship between financial institutions and their clients. Most emerging markets and developing economies (EMDEs) researched for th...
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| Format: | Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2013/08/24225257/implementing-consumer-protection-emerging-markets-developing-economies-technical-guide-bank-supervisors http://hdl.handle.net/10986/21825 |
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okr-10986-21825 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO FINANCE ADHESION CONTRACTS ADMINISTRATIVE COSTS ADVANCED ECONOMIES ADVERTISEMENTS ADVERTISING ALTERNATIVE DISPUTE RESOLUTION BANK EXAMINERS BANK GOVERNORS BANK NEGARA MALAYSIA BANK SUPERVISOR BANK SUPERVISORS BANKING INDUSTRY BANKING SUPERVISION BEST PRACTICE BEST PRACTICES BREACH BREACHES BUSINESS PRACTICES BUSINESSES CAPABILITY CAPITAL ADEQUACY CAPITAL MARKET CAPITAL MARKET SUPERVISION CENTRAL BANK CENTRAL BANKS CHECKING CODES OF CONDUCT COMMUNITY BANKS COMPENSATION POLICIES CONFIDENTIAL INFORMATION CONSUMER CONSUMER COMPLIANCE CONSUMER CONFIDENCE CONSUMER EDUCATION CONSUMER PROTECTION CONSUMER PROTECTION REGULATION CONSUMER PROTECTION REGULATIONS CONSUMER PROTECTION REQUIREMENTS CONSUMER PROTECTION STANDARDS CONSUMERS CONTRACTUAL CLAUSES COOPERATIVES CORPORATE GOVERNANCE STANDARDS CORRECTIVE ACTION COUNTRY TO COUNTRY CREDIT BUREAUS CREDIT CARD CREDIT CARDS CREDIT PRODUCTS CREDIT RISK CURRENCY CUSTOMER RELATIONSHIP CUSTOMER RELATIONSHIP MANAGEMENT CUSTOMER SEGMENTS CUSTOMER SERVICE DATA SECURITY DEBIT CARD DEBT DEMOGRAPHIC DEPOSIT DEPOSITS DEVELOPING ECONOMIES DISCLOSURE REQUIREMENTS DISCLOSURE STANDARDS DISPUTE RESOLUTION DISTRIBUTION CHANNELS EMERGING ECONOMIES EMERGING MARKET EMERGING MARKETS ENFORCEMENT ACTIONS ENFORCEMENT MECHANISM ENFORCEMENT POWERS FINANCIAL ANALYSES FINANCIAL AUTHORITIES FINANCIAL CAPACITY FINANCIAL CRISIS FINANCIAL DATA FINANCIAL EDUCATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SERVICE FINANCIAL SERVICE PROVIDER FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL SUPPORT FINANCIAL SYSTEMS FRAUD FRAUDS GENERAL PUBLIC HARMONIZATION HUMAN RESOURCES IDENTIFICATION NUMBER IDENTITY THEFT INADEQUATE DISCLOSURE INCOME INFORMATION FLOW INFORMATION GAPS INFORMATION SYSTEM INFORMATION SYSTEMS INNOVATIONS INSPECTION INSPECTIONS INSTITUTION INSTITUTIONAL ENVIRONMENT INSTITUTIONAL FRAMEWORKS INSURANCE INTEREST RATE INTEREST RATE RISK INTERNAL CONTROL INTERNAL CONTROLS INTERNATIONAL COMPARISONS INTERNATIONAL POLICY INTERNATIONAL STANDARDS JURISDICTION JURISDICTIONS LAWS LEGAL AUTHORITY LEGAL EXPERT LEGAL FRAMEWORK LEGAL FRAMEWORKS LEGAL PROTECTION LEGAL REMEDY LEGISLATION LENDING RISK LICENSE LICENSES LIQUIDITY LOW-INCOME COUNTRIES MANAGEMENT REPORTS MANAGEMENT SYSTEM MANAGEMENT SYSTEMS MANDATE MANDATES MARKET DEVELOPMENT MARKET RISK MARKET SEGMENTS MARKET SHARE MARKETING MARKETING STRATEGIES MATERIAL MICROFINANCE MICROFINANCE REGULATION MIDDLE-INCOME COUNTRIES NATIONAL BANK NEW MARKET NONBANK FINANCIAL INSTITUTIONS NONBANK INSTITUTIONS OPERATING SYSTEMS OPERATIONAL RISK PAYMENT SERVICE PENSIONS PERSONAL INFORMATION PETITIONS PHONE PORTFOLIO PRIVACY PRIVACY STANDARDS PROTECTION LAWS PROTECTION NEEDS PRUDENTIAL REQUIREMENTS PUBLIC ACCOUNTABILITY QUALITY STANDARDS QUERIES REFUNDS REFUNDS TO CUSTOMERS REGULATOR REGULATORS REGULATORY BODIES REGULATORY BODY REGULATORY CONDITIONS REGULATORY FRAMEWORK REGULATORY REQUIREMENTS REGULATORY RULES REGULATORY STANDARDS RELIABILITY REPUTATION RESERVE BANK RESERVE BANK OF INDIA RESOURCE ALLOCATION RESULT RESULTS RETAIL MARKETS RIGHTS OF CONSUMERS RISK ASSESSMENT RISK ASSESSMENTS RISK MANAGEMENT RISK WEIGHTS SAVINGS SAVINGS ACCOUNT SAVINGS ACCOUNTS SECURITIES SERVICE PROVIDER SERVICE PROVIDERS SHAREHOLDERS STATED OBJECTIVES STRONG CORPORATE GOVERNANCE SUPERVISION SUPERVISORY AGENCIES SUPERVISORY AGENCY SUPERVISORY AUTHORITIES TECHNICAL ASSISTANCE TECHNOLOGY RISK THE SOUTH AFRICAN RESERVE BANK THIRD PARTIES TRAINING COURSE TRANSACTION TRANSMISSION TRANSPARENCY TURNOVER USES WHITE GOODS |
| spellingShingle |
ACCESS TO FINANCE ADHESION CONTRACTS ADMINISTRATIVE COSTS ADVANCED ECONOMIES ADVERTISEMENTS ADVERTISING ALTERNATIVE DISPUTE RESOLUTION BANK EXAMINERS BANK GOVERNORS BANK NEGARA MALAYSIA BANK SUPERVISOR BANK SUPERVISORS BANKING INDUSTRY BANKING SUPERVISION BEST PRACTICE BEST PRACTICES BREACH BREACHES BUSINESS PRACTICES BUSINESSES CAPABILITY CAPITAL ADEQUACY CAPITAL MARKET CAPITAL MARKET SUPERVISION CENTRAL BANK CENTRAL BANKS CHECKING CODES OF CONDUCT COMMUNITY BANKS COMPENSATION POLICIES CONFIDENTIAL INFORMATION CONSUMER CONSUMER COMPLIANCE CONSUMER CONFIDENCE CONSUMER EDUCATION CONSUMER PROTECTION CONSUMER PROTECTION REGULATION CONSUMER PROTECTION REGULATIONS CONSUMER PROTECTION REQUIREMENTS CONSUMER PROTECTION STANDARDS CONSUMERS CONTRACTUAL CLAUSES COOPERATIVES CORPORATE GOVERNANCE STANDARDS CORRECTIVE ACTION COUNTRY TO COUNTRY CREDIT BUREAUS CREDIT CARD CREDIT CARDS CREDIT PRODUCTS CREDIT RISK CURRENCY CUSTOMER RELATIONSHIP CUSTOMER RELATIONSHIP MANAGEMENT CUSTOMER SEGMENTS CUSTOMER SERVICE DATA SECURITY DEBIT CARD DEBT DEMOGRAPHIC DEPOSIT DEPOSITS DEVELOPING ECONOMIES DISCLOSURE REQUIREMENTS DISCLOSURE STANDARDS DISPUTE RESOLUTION DISTRIBUTION CHANNELS EMERGING ECONOMIES EMERGING MARKET EMERGING MARKETS ENFORCEMENT ACTIONS ENFORCEMENT MECHANISM ENFORCEMENT POWERS FINANCIAL ANALYSES FINANCIAL AUTHORITIES FINANCIAL CAPACITY FINANCIAL CRISIS FINANCIAL DATA FINANCIAL EDUCATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SERVICE FINANCIAL SERVICE PROVIDER FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL SUPPORT FINANCIAL SYSTEMS FRAUD FRAUDS GENERAL PUBLIC HARMONIZATION HUMAN RESOURCES IDENTIFICATION NUMBER IDENTITY THEFT INADEQUATE DISCLOSURE INCOME INFORMATION FLOW INFORMATION GAPS INFORMATION SYSTEM INFORMATION SYSTEMS INNOVATIONS INSPECTION INSPECTIONS INSTITUTION INSTITUTIONAL ENVIRONMENT INSTITUTIONAL FRAMEWORKS INSURANCE INTEREST RATE INTEREST RATE RISK INTERNAL CONTROL INTERNAL CONTROLS INTERNATIONAL COMPARISONS INTERNATIONAL POLICY INTERNATIONAL STANDARDS JURISDICTION JURISDICTIONS LAWS LEGAL AUTHORITY LEGAL EXPERT LEGAL FRAMEWORK LEGAL FRAMEWORKS LEGAL PROTECTION LEGAL REMEDY LEGISLATION LENDING RISK LICENSE LICENSES LIQUIDITY LOW-INCOME COUNTRIES MANAGEMENT REPORTS MANAGEMENT SYSTEM MANAGEMENT SYSTEMS MANDATE MANDATES MARKET DEVELOPMENT MARKET RISK MARKET SEGMENTS MARKET SHARE MARKETING MARKETING STRATEGIES MATERIAL MICROFINANCE MICROFINANCE REGULATION MIDDLE-INCOME COUNTRIES NATIONAL BANK NEW MARKET NONBANK FINANCIAL INSTITUTIONS NONBANK INSTITUTIONS OPERATING SYSTEMS OPERATIONAL RISK PAYMENT SERVICE PENSIONS PERSONAL INFORMATION PETITIONS PHONE PORTFOLIO PRIVACY PRIVACY STANDARDS PROTECTION LAWS PROTECTION NEEDS PRUDENTIAL REQUIREMENTS PUBLIC ACCOUNTABILITY QUALITY STANDARDS QUERIES REFUNDS REFUNDS TO CUSTOMERS REGULATOR REGULATORS REGULATORY BODIES REGULATORY BODY REGULATORY CONDITIONS REGULATORY FRAMEWORK REGULATORY REQUIREMENTS REGULATORY RULES REGULATORY STANDARDS RELIABILITY REPUTATION RESERVE BANK RESERVE BANK OF INDIA RESOURCE ALLOCATION RESULT RESULTS RETAIL MARKETS RIGHTS OF CONSUMERS RISK ASSESSMENT RISK ASSESSMENTS RISK MANAGEMENT RISK WEIGHTS SAVINGS SAVINGS ACCOUNT SAVINGS ACCOUNTS SECURITIES SERVICE PROVIDER SERVICE PROVIDERS SHAREHOLDERS STATED OBJECTIVES STRONG CORPORATE GOVERNANCE SUPERVISION SUPERVISORY AGENCIES SUPERVISORY AGENCY SUPERVISORY AUTHORITIES TECHNICAL ASSISTANCE TECHNOLOGY RISK THE SOUTH AFRICAN RESERVE BANK THIRD PARTIES TRAINING COURSE TRANSACTION TRANSMISSION TRANSPARENCY TURNOVER USES WHITE GOODS Dias, Denise Implementing Consumer Protection in Emerging Markets and Developing Economies : A Technical Guide for Bank Supervisors |
| description |
Financial consumer protection regulation
reflects the regulator's and policy makers'
concerns with the relationship between financial
institutions and their clients. Most emerging markets and
developing economies (EMDEs) researched for this guide have
regulated at least one financial consumer protection topic.
Each detail in the regulatory requirements impacts how the
supervisor enforces them in practice and which tools and
techniques will work best. For example, a rule simply
requiring disclosure of an item will be checked by the field
supervisor differently than a rule requiring the item to be
disclosed at a specific moment and in a specified format.
Ignoring the time dimension of this rule can jeopardize its
core goal. This guide is an attempt to help bank supervisors
enforce such regulations. It is divided into following
sections: section one gives introduction. Section two
details guidance points in eight areas of interest for
supervisory staff and agencies, while section three suggests
a prioritization framework for supervisors - particularly
those in low-income countries with resource and capacity
constraints - that adopt a gradual approach when
implementing the guidance. |
| format |
Working Paper |
| author |
Dias, Denise |
| author_facet |
Dias, Denise |
| author_sort |
Dias, Denise |
| title |
Implementing Consumer Protection in Emerging Markets and Developing Economies : A Technical Guide for Bank Supervisors |
| title_short |
Implementing Consumer Protection in Emerging Markets and Developing Economies : A Technical Guide for Bank Supervisors |
| title_full |
Implementing Consumer Protection in Emerging Markets and Developing Economies : A Technical Guide for Bank Supervisors |
| title_fullStr |
Implementing Consumer Protection in Emerging Markets and Developing Economies : A Technical Guide for Bank Supervisors |
| title_full_unstemmed |
Implementing Consumer Protection in Emerging Markets and Developing Economies : A Technical Guide for Bank Supervisors |
| title_sort |
implementing consumer protection in emerging markets and developing economies : a technical guide for bank supervisors |
| publisher |
World Bank, Washington, DC |
| publishDate |
2015 |
| url |
http://documents.worldbank.org/curated/en/2013/08/24225257/implementing-consumer-protection-emerging-markets-developing-economies-technical-guide-bank-supervisors http://hdl.handle.net/10986/21825 |
| _version_ |
1764449289297199104 |
| spelling |
okr-10986-218252021-04-23T14:04:04Z Implementing Consumer Protection in Emerging Markets and Developing Economies : A Technical Guide for Bank Supervisors Dias, Denise ACCESS TO FINANCE ADHESION CONTRACTS ADMINISTRATIVE COSTS ADVANCED ECONOMIES ADVERTISEMENTS ADVERTISING ALTERNATIVE DISPUTE RESOLUTION BANK EXAMINERS BANK GOVERNORS BANK NEGARA MALAYSIA BANK SUPERVISOR BANK SUPERVISORS BANKING INDUSTRY BANKING SUPERVISION BEST PRACTICE BEST PRACTICES BREACH BREACHES BUSINESS PRACTICES BUSINESSES CAPABILITY CAPITAL ADEQUACY CAPITAL MARKET CAPITAL MARKET SUPERVISION CENTRAL BANK CENTRAL BANKS CHECKING CODES OF CONDUCT COMMUNITY BANKS COMPENSATION POLICIES CONFIDENTIAL INFORMATION CONSUMER CONSUMER COMPLIANCE CONSUMER CONFIDENCE CONSUMER EDUCATION CONSUMER PROTECTION CONSUMER PROTECTION REGULATION CONSUMER PROTECTION REGULATIONS CONSUMER PROTECTION REQUIREMENTS CONSUMER PROTECTION STANDARDS CONSUMERS CONTRACTUAL CLAUSES COOPERATIVES CORPORATE GOVERNANCE STANDARDS CORRECTIVE ACTION COUNTRY TO COUNTRY CREDIT BUREAUS CREDIT CARD CREDIT CARDS CREDIT PRODUCTS CREDIT RISK CURRENCY CUSTOMER RELATIONSHIP CUSTOMER RELATIONSHIP MANAGEMENT CUSTOMER SEGMENTS CUSTOMER SERVICE DATA SECURITY DEBIT CARD DEBT DEMOGRAPHIC DEPOSIT DEPOSITS DEVELOPING ECONOMIES DISCLOSURE REQUIREMENTS DISCLOSURE STANDARDS DISPUTE RESOLUTION DISTRIBUTION CHANNELS EMERGING ECONOMIES EMERGING MARKET EMERGING MARKETS ENFORCEMENT ACTIONS ENFORCEMENT MECHANISM ENFORCEMENT POWERS FINANCIAL ANALYSES FINANCIAL AUTHORITIES FINANCIAL CAPACITY FINANCIAL CRISIS FINANCIAL DATA FINANCIAL EDUCATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SERVICE FINANCIAL SERVICE PROVIDER FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL SUPPORT FINANCIAL SYSTEMS FRAUD FRAUDS GENERAL PUBLIC HARMONIZATION HUMAN RESOURCES IDENTIFICATION NUMBER IDENTITY THEFT INADEQUATE DISCLOSURE INCOME INFORMATION FLOW INFORMATION GAPS INFORMATION SYSTEM INFORMATION SYSTEMS INNOVATIONS INSPECTION INSPECTIONS INSTITUTION INSTITUTIONAL ENVIRONMENT INSTITUTIONAL FRAMEWORKS INSURANCE INTEREST RATE INTEREST RATE RISK INTERNAL CONTROL INTERNAL CONTROLS INTERNATIONAL COMPARISONS INTERNATIONAL POLICY INTERNATIONAL STANDARDS JURISDICTION JURISDICTIONS LAWS LEGAL AUTHORITY LEGAL EXPERT LEGAL FRAMEWORK LEGAL FRAMEWORKS LEGAL PROTECTION LEGAL REMEDY LEGISLATION LENDING RISK LICENSE LICENSES LIQUIDITY LOW-INCOME COUNTRIES MANAGEMENT REPORTS MANAGEMENT SYSTEM MANAGEMENT SYSTEMS MANDATE MANDATES MARKET DEVELOPMENT MARKET RISK MARKET SEGMENTS MARKET SHARE MARKETING MARKETING STRATEGIES MATERIAL MICROFINANCE MICROFINANCE REGULATION MIDDLE-INCOME COUNTRIES NATIONAL BANK NEW MARKET NONBANK FINANCIAL INSTITUTIONS NONBANK INSTITUTIONS OPERATING SYSTEMS OPERATIONAL RISK PAYMENT SERVICE PENSIONS PERSONAL INFORMATION PETITIONS PHONE PORTFOLIO PRIVACY PRIVACY STANDARDS PROTECTION LAWS PROTECTION NEEDS PRUDENTIAL REQUIREMENTS PUBLIC ACCOUNTABILITY QUALITY STANDARDS QUERIES REFUNDS REFUNDS TO CUSTOMERS REGULATOR REGULATORS REGULATORY BODIES REGULATORY BODY REGULATORY CONDITIONS REGULATORY FRAMEWORK REGULATORY REQUIREMENTS REGULATORY RULES REGULATORY STANDARDS RELIABILITY REPUTATION RESERVE BANK RESERVE BANK OF INDIA RESOURCE ALLOCATION RESULT RESULTS RETAIL MARKETS RIGHTS OF CONSUMERS RISK ASSESSMENT RISK ASSESSMENTS RISK MANAGEMENT RISK WEIGHTS SAVINGS SAVINGS ACCOUNT SAVINGS ACCOUNTS SECURITIES SERVICE PROVIDER SERVICE PROVIDERS SHAREHOLDERS STATED OBJECTIVES STRONG CORPORATE GOVERNANCE SUPERVISION SUPERVISORY AGENCIES SUPERVISORY AGENCY SUPERVISORY AUTHORITIES TECHNICAL ASSISTANCE TECHNOLOGY RISK THE SOUTH AFRICAN RESERVE BANK THIRD PARTIES TRAINING COURSE TRANSACTION TRANSMISSION TRANSPARENCY TURNOVER USES WHITE GOODS Financial consumer protection regulation reflects the regulator's and policy makers' concerns with the relationship between financial institutions and their clients. Most emerging markets and developing economies (EMDEs) researched for this guide have regulated at least one financial consumer protection topic. Each detail in the regulatory requirements impacts how the supervisor enforces them in practice and which tools and techniques will work best. For example, a rule simply requiring disclosure of an item will be checked by the field supervisor differently than a rule requiring the item to be disclosed at a specific moment and in a specified format. Ignoring the time dimension of this rule can jeopardize its core goal. This guide is an attempt to help bank supervisors enforce such regulations. It is divided into following sections: section one gives introduction. Section two details guidance points in eight areas of interest for supervisory staff and agencies, while section three suggests a prioritization framework for supervisors - particularly those in low-income countries with resource and capacity constraints - that adopt a gradual approach when implementing the guidance. 2015-04-29T16:22:40Z 2015-04-29T16:22:40Z 2013-08-16 Working Paper http://documents.worldbank.org/curated/en/2013/08/24225257/implementing-consumer-protection-emerging-markets-developing-economies-technical-guide-bank-supervisors http://hdl.handle.net/10986/21825 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Working Paper |