Rutledge, Sue2012-08-132012-08-132009-12https://hdl.handle.net/10986/10221Over the last decade, consumer credit in the Russian Federation has expanded from almost nothing to 9.2 percent of Gross Domestic Product (GDP) in 2008. This is an average increase of 84 percent a year for five years. Recent developments in financial markets have highlighted the need for consumer protection and financial literacy for the long-term health of the financial sector. The rapid growth of household lending has been accompanied by an increase in the number of households that have difficulty in understanding the risks and obligations that they assume, or the full range of choices available. In the United States mortgage markets for instance, complex financial contracts were sold to borrowers, some of whom had weak credit histories. The consequences were disastrous, and highlight the importance of consumer protection and financial education to prevent other similar events.CC BY 3.0 IGOACCESS TO FINANCIAL EDUCATIONARBITRATIONASSETSBAD INVESTMENTBANK ACCOUNTSBANK FINANCINGBANKING SECTORBANKRUPTBANKRUPTCY LEGISLATIONBANKRUPTCY PROCEDUREBANKRUPTCY PROCEDURESBANKSBEST PRACTICESBORROWINGSBUDGET PLANNINGBUSINESS MODELBUSINESS PRACTICESCAPABILITYCAR REPAIRSCENTRAL BANKCHECKSCOLLECTION AGENCIESCOLLECTION OF PAYMENTSCOMMERCIAL BANKSCOMPOUND INTERESTCONSUMERCONSUMER COMPLAINTSCONSUMER CONFIDENCECONSUMER CREDITCONSUMER DEBTORSCONSUMER DISCLOSURECONSUMER LENDINGCONSUMER PROTECTIONCONSUMER RIGHTSCONSUMER SPENDINGCONSUMERSCONTACT POINTCONTRACT PROVISIONSCONTRIBUTIONCREDIT COOPERATIVESCREDIT HISTORIESCREDIT PROVIDERSCREDIT REPORTINGCREDIT RISKCREDITSDEBTDEBT COLLECTIONDEBT COLLECTORSDEBTORSDEPOSITDISCLOSURE REQUIREMENTSDISPUTE RESOLUTIONDISPUTE RESOLUTION MECHANISMSEXPOSUREFINANCIAL CONSUMERFINANCIAL CONSUMERSFINANCIAL CONTRACTSFINANCIAL DECISIONSFINANCIAL EDUCATIONFINANCIAL EDUCATION INITIATIVESFINANCIAL EDUCATION PROGRAMSFINANCIAL FUTUREFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL INTERMEDIARIESFINANCIAL ISSUESFINANCIAL LITERACYFINANCIAL LITERACY SURVEYFINANCIAL LITERACY SURVEYSFINANCIAL MARKETSFINANCIAL PRODUCTSFINANCIAL QUESTIONSFINANCIAL SECTORFINANCIAL SECTOR DEVELOPMENTFINANCIAL SERVICEFINANCIAL SERVICESFINANCIAL SERVICES PROVIDERSFINANCIAL STABILITYFINANCIAL STRATEGIESFINANCIAL SYSTEMFINANCIAL TRANSACTIONSFRAUDSGROSS DOMESTIC PRODUCTINDIVIDUAL CONSUMERINDIVIDUAL CONSUMER DEBTORSINDIVIDUAL CONSUMERSINDIVIDUAL DEBTORSINFORMATION DISCLOSUREINFORMED CONSUMERSINSTITUTIONAL FRAMEWORKINSURANCEINSURANCE COMPANIESINVESTINGINVESTMENT ADVICEINVESTMENT DECISIONSINVESTMENT FUNDSLEGAL FRAMEWORKLENDERSLIQUIDATIONLIQUIDITYLIQUIDITY RISKLONG-TERM SAVINGSLOW-INCOMELOW-INCOME PEOPLEMANDATEMARKET DISCIPLINEMARKET FAILUREMARKET RISKSMORTGAGEMORTGAGE MARKETSMORTGAGESNEW INVESTORSPAYMENT SERVICEPAYOFFPENSIONPENSION FUNDSPENSION PLANNINGPENSION SCHEMESPERSONAL BANKRUPTCYPERSONAL INFORMATIONPRIVACYPRIVATE FINANCIAL SECTORPRIVATE SECTORPRIVATE SECTOR DEVELOPMENTPROFESSIONAL ASSOCIATIONPROFESSIONAL ASSOCIATIONSRAPID GROWTHREAL ESTATEREORGANIZATIONRESIDENTIAL MORTGAGESRESIDENTIAL REAL ESTATERESULTRESULTSSAVINGSSECURITIESSENIORSERVICE PROVIDERSSTANDARD CONTRACTSTATE PENSIONSUPERVISIONSUPERVISORY AGENCYTARGETSTRANSPARENCYTRUST FUNDUNFAIR PRACTICESVALUABLEWorld Bank10.1596/10221