Consumer protection and financial services in Europe
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Published by Association pour la Diffusion de l"Information Juridique in Brussels .
Written in English


Book details:

Edition Notes

SeriesJUSletter Bulletin -- 3/89
ID Numbers
Open LibraryOL14387417M

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The Note is the second report in a pilot program to analyze consumer protection in objectives of the Note are three-fold, to: (1) present a set of draft good practices for assessing consumer protection in financial services; (2) conduct a review of the existing rules and practices in Slovakia compared to the draft. Print book: EnglishView all editions and formats: Rating: (not yet rated) 0 with reviews - Be the first. Subjects: Financial services industry -- Law and legislation -- Great Britain. Consumer protection -- Law and legislation -- Great Britain. Consumer protection -- Law and legislation. View all subjects; More like this: Similar Items. financial education should be available to consumers so that they can understand financial services and products and make informed decisions. The Good Practices were developed as part of a pilot program in consumer protection and financial literacy, which has prepared Diagnostic Reviews in ten countries of Europe and Central Asia since The financial crisis of / has clearly shown that inadequate consumer protection, especially in the US mortgage market, was a major contributor to financial instability. Moreover, many holders of sub-prime mortgages suffered considerable harm as a result of mis-selling or inappropriate selling.

The EBA promotes a transparent, simple and fair internal market for consumers in financial products and services. The EBA seeks to foster consumer protection in financial services across the EU by identifying and addressing detriment consumers may experience, or are at risk of experiencing, in their dealings with financial firms. The role and tasks of the EBA related to consumer protection and. to financial consumer protection that focuses on issues of specific relevance to digital financial services. The OECD is an implementing partner of the GPFI subgroup on Financial Consumer Protection and Financial Literacy. 1 The G20/OECD Task Force on Financial Consumer Protection was established in as part of the strategic. Within Europe, this has resulted in the setting up of the Single Supervisory Mechanism (SSM) for bank regulation (although it has no consumer protection mandate), as well as regulatory initiatives such as Solvency II which has the twin goals of enhancing consumer protection and maintaining financial stability in the insurance sector, the.   A few words about EU financial consumer protection. The regulatory background of financial consumer protection at EU level includes the Directives 93/13/EEC on unfair terms in consumer contracts, /48/EC on credit agreements for consumers and /29/EC concerning unfair business-to-consumer commercial practices in the internal market.

A common challenge among the nine countries is the need of an adequate institutional structure for financial consumer protection. The objective of the paper is to contribute to the international dialog on strengthening financial consumer protection and financial literacy in emerging markets. Consumer Protection Financial products and services play such an important part in the everyday lives of consumers from paying for goods and services, to insuring against 4 European Insurance and Occupational Pensions Authority 5 European Supervisory Authorities. This Working Paper aims to summarize key lessons from reviews of consumer protection and financial literacy in nine middle-income countries of Europe and Central Asia (Azerbaijan, Bulgaria, Croatia, the Czech Republic, Latvia, Lithuania, Romania, the Russian Federation and Slovakia). Consumer finance is a standout performer in the European financial-services sector. Average annual shareholder returns for listed institutions between and were about percent, compared with retail banking’s percent and corporate banking’s percent.