Chile - Financial Sector Assessment Program, December 2021 : Technical Note - Household Indebtedness and Financial Consumer Protection

This Technical Note discusses household indebtedness issues in Chile from a financial consumer protection perspective. The note discusses over-indebtedness concerns and other creditrelated issues practices that appear to be adversely affecting cons...

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Bibliographic Details
Main Authors: Cohen, Charles, Dijkman, Miquel
Format: Report
Language:English
Published: World Bank, Washington, DC 2022
Subjects:
Online Access:http://documents.worldbank.org/curated/en/099455107152211331/P172020018d97103a0aa0c02fbdce66bdcd
http://hdl.handle.net/10986/37750
Description
Summary:This Technical Note discusses household indebtedness issues in Chile from a financial consumer protection perspective. The note discusses over-indebtedness concerns and other creditrelated issues practices that appear to be adversely affecting consumers – particularly more vulnerable, lower income consumers – in Chile and gaps in the current financial consumer protection regulatory and supervisory framework needing to be bridged to assist in addressing these issues. The note considers both issues that had already manifested prior to the COVID-19 pandemic and developments during the pandemic. Importantly, the note highlights credit-related issues which warrant focus from a consumer protection perspective even if they may not necessarily be a concern from a stability perspective.