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Republic of the Philippines Diagnostic Review of Consumer Protection in the Banking Sector : Volume 2. Comparison with Good Practices

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collection.link.78
https://openknowledge.worldbank.org/handle/10986/2186
collection.name.78
Other Financial Accountability Study
dc.contributor.author
World Bank Group
dc.date.accessioned
2017-01-23T17:26:19Z
dc.date.available
2017-01-23T17:26:19Z
dc.date.issued
2014-11
dc.date.lastModified
2017-12-13T12:39:26Z
dc.description.abstract
The Philippines has made an impressive progress in consumer protection in the banking sector, as shown by the wide range of laws and of regulatory instruments, their active use and enforcement, and by provision of complaint resolution services. The 2013 Global Survey on Financial Consumer Protection indicated that the Philippines compares well with the other economies and yet there is space for further strengthening of the financial consumer protection framework. In order to improve access to financial services, their usage and quality, and further deepen the financial sector, the Philippines has to design and implement a sound financial consumer protection regime with prudential regulation and supervision. This World Bank’s Diagnostic Review was undertaken in response to a request from the Bangko Sentral ng Philipinas (BSP). It provides a detailed assessment of the consumer protection framework in the banking sector, with a particular focus on debit and credit products provided by BSP regulated banks. The review addresses the following areas: 1. Institutional Arrangements, 2. Legal and Regulatory Framework, 3. Transparency and Disclosure, 4. Business Practices, 5. Complaints Handling and Dispute Resolution Mechanisms, and 6. Consumer Awareness and Financial Literacy. Volume I summarizes the key findings and recommendations and Volume II provides comparison with the World Bank`s Good Practices for Financial Consumer Protection.
en
dc.identifier
http://documents.worldbank.org/curated/en/147021483702006562/Technical-annex-comparison-with-good-practices
dc.identifier.uri
http://hdl.handle.net/10986/25881
dc.language
English
dc.language.iso
en_US
dc.publisher
World Bank, Washington, DC
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
financial literacy
dc.subject
banking
dc.subject
regulation
dc.subject
financial consumer protection
dc.subject
financial disclosure
dc.subject
data protection
dc.subject
privacy
dc.subject
dispute resolution
dc.subject
consumer empowerment
dc.subject
credit reporting
dc.subject
legal framework
dc.title
Republic of the Philippines Diagnostic Review of Consumer Protection in the Banking Sector
en
dc.title.subtitle
Volume 2. Comparison with Good Practices
en
dc.type
Report
en
okr.date.disclosure
2017-01-06
okr.doctype
Economic & Sector Work :: Other Financial Accountability Study
okr.doctype
Economic & Sector Work
okr.docurl
http://documents.worldbank.org/curated/en/147021483702006562/Technical-annex-comparison-with-good-practices
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
090224b084848224_1_0
okr.identifier.internaldocumentum
27077265
okr.identifier.report
111732
okr.imported
true
okr.language.supported
en
okr.pdfurl
http://documents.worldbank.org/curated/en/147021483702006562/pdf/111732-WP-P144143-PUBLIC-v2-ABSTRACT-SENT-PhilippinesCPDiagReviewBankingVolumeIFINAL.pdf
en
okr.region.administrative
East Asia and Pacific
okr.region.country
Philippines
okr.sector
Finance
okr.topic
Finance and Financial Sector Development :: Banks & Banking Reform
okr.topic
Finance and Financial Sector Development :: Finance and Development
okr.topic
Finance and Financial Sector Development :: Financial Literacy
okr.topic
Finance and Financial Sector Development :: Financial Regulation & Supervision
okr.topic
Governance :: Governance and the Financial Sector
okr.topic
Law and Development :: Financial Law
okr.unit
F&M GP GST - 2B Fin Infr & Acc (GFM2B)

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