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An International Comparison of Financial Consumer Protection by Tsai-Jyh Chen download in iPad, ePub, pdf

Developing countries are most vulnerableFormulation of recommendations

Compliance and enforcement The project will apply a comparative and empirical research method. As shown by the financial crisis, sparked by a housing bubble created by excessive lending, effective consumer protection is required to promote financial stability. While international principles provide a basic framework for consumer protection, they remain abstract and generic in practice, and are non-binding in nature.

Developing countries are most vulnerable as they are sometimes exposed to rapid changes e. Formulation of recommendations to strengthen financial consumer protection in the banking sector. These innovations, and in particular more accessible consumer credit, strengthen the purchasing power of individuals, enhance consumer welfare and can reduce poverty if used in a responsible way. This raises the question of how they may influence national legal systems, in particular those in emerging and developing economies, where financial consumer protection is crucial. Finally, it will propose a mix of regulatory instruments and best practices to promote a coherent approach to financial consumer protection in the banking sector.