Publication:
Latvia : Action Plan on Financial Consumer Protection

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dc.contributor.authorWorld Bank
dc.date.accessioned2013-03-14T15:48:13Z
dc.date.available2013-03-14T15:48:13Z
dc.date.issued2010-04
dc.description.abstractThis paper forms the action plan for financial consumer protection, and focuses on the main findings and recommendations. These include proposing specific actions to be undertaken by Latvian authorities, financial institutions and consumer organizations, so that consumer protection is strengthened and made more effective and efficient. Existing industry ombudsmen should publish cases they have dealt with, as well as their yearly activity report, which should be provided to the Financial and Capital Market Commission (FCMC), and to the Consumer Rights Protection Center (CRPC). The action plan draws on best international practices and experiences of regulators and supervisors, who have tried to introduce improved consumer protection regimes in their countries. A well balanced consumer protection regime serves the interest of financial institutions as it provides them with better-informed clients and makes sure that clients understand their obligations under the contracts they signed. The paper takes into account the current macroeconomic situation in Latvia, and focuses primarily on measures that demand little to no financing requirements. When actions with a funding need are recommended, the action plan provides an estimate of necessary costs. The plan recommends that the guidance should focus on ensuring independence of decisions made by the ombudsman, low costs for the public, and the binding nature of ombudsman's decisions for financial institutions.en
dc.identifierhttp://documents.worldbank.org/curated/en/2010/04/16449898/latvia-action-plan-financial-consumer-protection
dc.identifier.doi10.1596/12723
dc.identifier.urihttps://hdl.handle.net/10986/12723
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTABILITY
dc.subjectACTION PLAN
dc.subjectADVERTISEMENTS
dc.subjectANNUAL PERCENTAGE RATE
dc.subjectAPR
dc.subjectAWARENESS CAMPAIGN
dc.subjectBANK ACCOUNTS
dc.subjectBANK CREDIT
dc.subjectBANK OF LATVIA
dc.subjectBANKING INDUSTRY
dc.subjectBEST PRACTICES
dc.subjectBORROWING
dc.subjectBROCHURES
dc.subjectBUDGET CONSTRAINTS
dc.subjectBUSINESS PRACTICE
dc.subjectBUSINESS PRACTICES
dc.subjectCALCULATIONS
dc.subjectCAPABILITY
dc.subjectCAPABILITY BUILDING
dc.subjectCAPACITY BUILDING
dc.subjectCAPITAL MARKET
dc.subjectCLEARINGHOUSE
dc.subjectCODE OF CONDUCT
dc.subjectCODES OF CONDUCT
dc.subjectCOLLATERAL
dc.subjectCOLLECTION PROCESS
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMUNICATION STRATEGY
dc.subjectCONSUMER COMPLAINT
dc.subjectCONSUMER COMPLAINTS
dc.subjectCONSUMER CREDIT
dc.subjectCONSUMER ORGANIZATIONS
dc.subjectCONSUMER PROTECTION
dc.subjectCONSUMER RIGHTS
dc.subjectCONSUMERS
dc.subjectCONTACT INFORMATION
dc.subjectCREDIT BUREAUS
dc.subjectCREDIT CARDS
dc.subjectCREDIT INFORMATION
dc.subjectCREDIT INSTITUTIONS
dc.subjectCREDIT PRODUCTS
dc.subjectCREDIT PROVIDERS
dc.subjectCREDIT REPORTING
dc.subjectCREDIT REPORTING SYSTEM
dc.subjectDEBT
dc.subjectDEBT COLLECTION
dc.subjectDEBT COLLECTIONS
dc.subjectDEBT COLLECTORS
dc.subjectDEBTS
dc.subjectDISCLOSURE OF INFORMATION
dc.subjectDISPUTE RESOLUTION
dc.subjectECONOMIC DOWNTURN
dc.subjectEDUCATIONAL ACTIVITIES
dc.subjectEDUCATIONAL PROGRAM
dc.subjectEDUCATIONAL PROGRAMS
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATE FLUCTUATIONS
dc.subjectFINANCES
dc.subjectFINANCIAL ADVERTISING
dc.subjectFINANCIAL CONSUMER
dc.subjectFINANCIAL EDUCATION
dc.subjectFINANCIAL EDUCATION FOR ADULTS
dc.subjectFINANCIAL EDUCATION FOR CHILDREN
dc.subjectFINANCIAL EDUCATION PROGRAMS
dc.subjectFINANCIAL INDUSTRY
dc.subjectFINANCIAL INSTITUTION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTERMEDIARIES
dc.subjectFINANCIAL ISSUES
dc.subjectFINANCIAL LITERACY
dc.subjectFINANCIAL LITERACY PROGRAMS
dc.subjectFINANCIAL LITERACY SURVEY
dc.subjectFINANCIAL LITERACY SURVEYS
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL PRODUCT
dc.subjectFINANCIAL PRODUCTS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SECTOR DEVELOPMENT
dc.subjectFINANCIAL SECTORS
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL SERVICES AUTHORITY
dc.subjectFINANCIAL SUPPORT
dc.subjectFULL DISCLOSURE
dc.subjectGENERAL PUBLIC
dc.subjectGOVERNMENT FUNDING
dc.subjectIMAGE
dc.subjectINDEBTEDNESS
dc.subjectINFORMATION POLICY
dc.subjectINFORMED DECISION
dc.subjectINFORMED DECISIONS
dc.subjectINSPECTIONS
dc.subjectINSURANCE
dc.subjectINTEREST RATES
dc.subjectINVESTMENT PRODUCTS
dc.subjectLAWS
dc.subjectLEGAL AUTHORITY
dc.subjectLEGAL PROVISIONS
dc.subjectLEGAL RIGHTS
dc.subjectLEGAL STANDARDS
dc.subjectLEGISLATION
dc.subjectLEVEL OF EDUCATION
dc.subjectLICENSE
dc.subjectLICENSES
dc.subjectLIFE INSURANCE
dc.subjectLOAN
dc.subjectLOW COSTS
dc.subjectMARKET COMPETITION
dc.subjectMARKET PARTICIPANTS
dc.subjectMARKET REGULATOR
dc.subjectMONEY MARKET
dc.subjectMONEY MARKET MUTUAL FUNDS
dc.subjectMONTHLY PAYMENT
dc.subjectMORTGAGES
dc.subjectMUTUAL FUNDS
dc.subjectNEW PRODUCT
dc.subjectOLDER CHILDREN
dc.subjectPENALTIES
dc.subjectPENSION
dc.subjectPENSION PRODUCTS
dc.subjectPOINT OF SALE
dc.subjectPOLITICAL STABILITY
dc.subjectPRIVATE CREDIT
dc.subjectPRIVATE CREDIT BUREAUS
dc.subjectPRUDENTIAL SUPERVISION
dc.subjectREGULATORS
dc.subjectRESULT
dc.subjectRESULTS
dc.subjectRETURNS
dc.subjectSALE
dc.subjectSALES
dc.subjectSAVINGS
dc.subjectSAVINGS ACCOUNTS
dc.subjectSELF-REGULATION
dc.subjectSENIOR
dc.subjectSOCIAL SECURITY
dc.subjectSTAKEHOLDERS
dc.subjectSTANDARD CONTRACT
dc.subjectSUPERVISION
dc.subjectSUPERVISORY AGENCY
dc.subjectSUPERVISORY AUTHORITY
dc.subjectSUPPORT PROGRAMS
dc.subjectTARGETS
dc.subjectTEACHER TRAINING
dc.subjectTELEPHONE
dc.subjectTRAINING MATERIALS
dc.subjectTRAINING PROGRAMS
dc.subjectTRANSACTION
dc.subjectTURNOVER
dc.subjectUSABILITY
dc.subjectUSER
dc.subjectUSERS
dc.subjectUSES
dc.subjectVERIFICATION
dc.subjectYOUNG ADULTS
dc.subjectYOUNG CHILDREN
dc.subjectYOUNG PEOPLE
dc.titleLatvia : Action Plan on Financial Consumer Protectionen
dc.title.alternativeLatvia - Finanu pateretaju aizsardzibas : ricibas plansen
dspace.entity.typePublication
okr.date.disclosure2012-06-29
okr.date.doiregistration2025-05-07T12:00:28.951720Z
okr.doctypeEconomic & Sector Work::Investment Climate Assessment (ICA)
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2010/04/16449898/latvia-action-plan-financial-consumer-protection
okr.globalpracticeFinance and Markets
okr.globalpracticeTransport and ICT
okr.globalpracticeTrade and Competitiveness
okr.guid705121468266154007
okr.guid433251468278332277
okr.identifier.externaldocumentum000426104_20120629161615
okr.identifier.internaldocumentum16449898
okr.identifier.report70339
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/06/29/000426104_20120629161615/Rendered/PDF/703390ESW0P1016190Box370036B00PUBLIC0.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryLatvia
okr.sectorFinance
okr.themeFinancial and private sector development :: Corporate governance
okr.topicPrivate Sector Development::E-Business
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicBanks and Banking Reform
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Financial Literacy
okr.unitPrivate/Financial Sectors Devt (ECSPF)
okr.volume1 of 1
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