World Bank Group2016-03-022016-03-022015-11https://hdl.handle.net/10986/23810The existence of a sound financial consumer protection framework is fundamental to increasing access to and usage of financial services, and the quality of those financial services, along with supporting further financial sector deepening. Financial consumer protection is a necessary precursor to building trust in the formal financial sector and thus in encouraging financial inclusion. Further, consumer protection helps ensure that expanded access benefits consumers and the economy as a whole. While increased access can result in significant economic and societal benefits, it can be neutral or even harmful if consumers: (i) cannot exercise their rights as consumers, (ii) cannot select the financial products that suit them best; and (iii) are not protected from mis-selling, fraud, and other market abuses. The main objective of a CPFL Review is to assess the legal, regulatory, and institutional frameworks for financial consumer protection in a country, with reference to the good practices. The following areas are addressed: (i) institutional arrangements, (ii) the legal and regulatory framework, (iii) transparency and disclosure, (iv) business practices, (v) complaints handling and dispute resolution mechanisms and (vi) financial literacy/capability. All parts of a financial sector can be considered, including banking, non-bank credit institutions, insurance, securities, private pensions, and credit reporting.en-USCC BY 3.0 IGOFINANCIAL SERVICESINVESTMENT ADVISERMASS MEDIABORROWERPENSION MEMBERSDISCLOSURE OF INFORMATIONACCOUNTINGFORMAL EDUCATIONDEPOSITSCUSTOMERFINANCIAL COMPANIESFUND MANAGERCONFLICT OF INTERESTINFORMED DECISIONSOCCUPATIONAL PLANSMINIMUM WAGEFUND MANAGERSINTERESTLONG-TERM SAVINGSCONTRIBUTIONSALARYCONTRIBUTION PAYMENTMEDIUM ENTERPRISESRESPONSIBILITYPURCHASESLABOR FORCEOCCUPATIONAL PENSIONSPENSION SECTORMARKET SHARESLOANSALARIESRECORD KEEPINGCONSUMER PROTECTION LAWSFINANCIAL CONSUMERBANKRUPTCYREGULATORY AUTHORITYCAR INSURANCEBANKING SERVICEAUDITSINSURANCE COMPANYLITERACYMARKET PARTICIPANTSKNOWLEDGEINVESTMENT PRODUCTSUNDER EMPLOYMENTFINANCIAL PRODUCTEDUCATION CAMPAIGNSTRAININGREPLACEMENT RATEFINANCIAL INSTITUTIONWAGEFINANCESCONSUMER ORGANIZATIONSEDUCATIONAL MATERIALFINANCIAL INSTITUTIONSLITERACY PROGRAMDEBTLIFE INSURERSSOCIAL PROTECTIONPRIVATE PENSION FUNDSEXPENSEEQUITIESASSET ACCUMULATIONPENSION FUNDSFINANCIAL LITERACY INITIATIVEBANKSTRANSACTIONSINSURANCESYOUNG ADULTSCONSUMEREXPENSESFINANCIAL TRANSACTIONSBEST PRACTICESMARKET CAPITALIZATIONMARKET CONDITIONSBANKINVESTMENT ADVISORSCONTRIBUTIONSDEMANDOUTREACH PROGRAMFINANCIAL SECURITYFINANCIAL EDUCATIONSOURCE OF INFORMATIONFINANCIAL SERVICE PROVIDERSSALEPRIVATE PENSIONSFINANCIAL LITERACY STRATEGYDIVERSIFICATIONSECURITIESINSURANCEOUTREACH PROGRAMSPURCHASECONSUMER INFORMATIONLABOUR FORCEEDUCATIONPENSION SCHEMESALES TACTICSFINANCIAL INTERMEDIARIESINVESTMENT SCHEMEPENSIONERSSUPPLYFINANCIAL EDUCATION MATERIALDISABILITYFINANCIAL REGULATORSALES ACTIVITYTERMINATIONPENSION SCHEMESLEGAL RECOURSEFINANCIAL CONSEQUENCESAUDITCOMMODITIESINSURANCE COMPANIESFINANCIAL SECTORLEVEL OF KNOWLEDGELIABILITIESEXPENSE RATIOFUND ASSETSLITERACY PROGRAMSSECURITIES INDUSTRYADVERTISEMENTSINTEREST CHARGESCASH FLOWFINANCIAL SECTOR DEVELOPMENTEDUCATIONAL PROGRAMINVESTINGDEPOSITCAPITAL MARKETSFINANCIAL EDUCATION MATERIALSLIABILITYTIMELY PAYMENTCALCULATIONRETIREMENTSTOCKMINIMUM PENSIONFINANCIAL GROUPSSALESINCOMELIFE INSURANCEFINANCIAL LITERACYFINANCE COMPANIESINTEREST RATEFINANCIAL ACTIVITIESSTOCK MARKETSPENDINGINFORMATIONHEALTH INSURANCECALCULATIONSDISCLOSURE REQUIREMENTSFINANCIAL REGULATORSPROFIT SHARINGINSURANCE POLICIESBONDSFINANCIAL BEHAVIORPENSION SYSTEMCONSUMER COUNCILSBENEFICIARIESPRIVATE PENSIONCREDITORSPENSIONLENDERCONSUMER RIGHTSBROCHURESBUDGETCREDITSSAVINGSCONSUMER COMPLAINTSCONFLICT OF INTERESTSMONEYRETIREMENT AGEINVESTMENT ADVISORINTEREST RATESOCCUPATIONAL PENSION SECTORCOLLECTIVE INVESTMENT SCHEMEMARKETINGFINANCIAL PRODUCTSOCCUPATIONAL PENSIONLENDERSSOCIAL SECURITYCUSTOMER SERVICEPENSION MARKETLOANSVALUABLEPENSION PRODUCTSINSURANCE POLICYINVESTMENT ADVISERSFINANCECONSUMER RIGHTACCESS TO INFORMATIONEQUITYTRANSACTIONINVESTORSBANK PRODUCTWAGESFINANCIAL STABILITYFINANCIAL TOPICSPENSIONSCURRICULACONTRIBUTION RATECREDITSTAKEHOLDERSBUDGETSFINANCIAL INSTRUMENTSFINANCIAL INSTRUMENTPUBLIC AWARENESSFINANCIAL CONSUMERSCONSUMERSPROPERTYINVESTMENT ADVICEFUND MANAGEMENTRESPONSIBILITIESFINANCIAL SERVICEINVESTMENT RETURNSCREDIT BUREAUANNUAL STATEMENTSINVESTMENT MANAGEMENTGENERAL PUBLICACCESS TO CREDITINTERESTSINVESTORSECURITYYEARS OF SERVICEAWARENESS CAMPAIGNSTOCKSOCCUPATIONAL SCHEMESSTOCK EXCHANGEFINANCIAL SITUATIONINVESTMENTATMINVESTMENT PORTFOLIOBALANCE SHEETSFINANCIAL INFORMATIONFINANCIAL INTERMEDIARYOCCUPATIONAL PENSION SCHEMESSTAKEHOLDERPROFITAUTO INSURANCESTUDENTSINVESTMENTSCHECKINFORMED CHOICESPENSION COVERAGEPENSION FUNDPROVISION OF ADVICEASSET CLASSCUSTOMERSPROFITSPENSION SPENDINGCONSUMER PROTECTIONReportWorld Bank10.1596/23810