World Bank2015-02-252015-02-252015-01https://hdl.handle.net/10986/21486This review of the Consumer Protection and Financial Literacy Framework (CPFL) in Paraguay was undertaken in response to a request for technical assistance in this area made by the Central Bank of Paraguay (BCP). The objectives were: (i) to assess the existing consumer protection and financial literacy framework by reviewing laws, regulations, and actual practices in Paraguay, and comparing it with international good practice; and (ii) to provide recommendations on ways to improve the level of financial consumer protection and financial literacy in the country. The Diagnostic Review provides a detailed assessment of the institutional, legal and regulatory framework for consumer protection in four segments of the financial sector: (i) banks and finance companies, (ii) financial cooperatives, (iii) insurance companies, and, - in reflection of the important role they play in Paraguay - (iv) non-bank agents and mobile payment providers. Its findings and recommendations cover six thematic areas: (i) Institutional Arrangements, (ii) Legal and Regulatory Framework, (iii) Transparency and Disclosure, (iv) Business Practices, (v) Complaints Handling and Dispute Resolution, and as a stand-alone section (vi) Financial Education.Este estudio de diagnóstico evalúa el marco existente de protección del consumidor y educación financiera en Paraguay mediante la revisión de las leyes, regulaciones y prácticas reales y lo comparara con las buenas prácticas internacionales. Asimismo, proporciona recomendaciones sobre cómo mejorar el nivel de protección del consumidor financiero y la educación financiera en el país. Además proporciona una evaluación detallada del marco institucional, jurídico y regulatorio para la protección del consumidor en cuatro segmentos del sector financiero: bancos y entidades financieras, cooperativas financieras, empresas de seguros, y, los agentes no bancarios y proveedores de pagos móviles. Sus conclusiones y recomendaciones abarcan seis áreas temáticas: Arreglos Institucionales, Marco Legal y Regulatorio, Transparencia y Divulgación, Prácticas Empresariales, Manejo de Quejas y Solución de Conflictos, y como una sección independiente Educación Financiera.en-USCC BY 3.0 IGOACCESS TO CREDITACCOUNTINGADMINISTRATIVE CHARGESADMINISTRATIVE SUPPORTADVERTISEMENTADVERTISEMENTSADVISORY SERVICESAFFORDABILITYANNUAL PERCENTAGE RATESARBITRATIONARREARSATMATM WITHDRAWALSATMSAUDITSBANKING SECTORBANKSBENEFICIARIESBORROWERBORROWINGBUDGETINGBUDGETING SKILLSCALCULATIONCAPACITY BUILDINGCENTRAL BANKCHECKING ACCOUNTSCHECKSCOMMERCIAL BANKSCOMMERCIAL TRANSACTIONCONSUMERCONSUMER COMPLAINTSCONSUMER CREDITCONSUMER PROTECTIONCONSUMER PROTECTION LAWCONSUMERSCOOPERATIVESCOST OF CREDITCOURT SETTLEMENTCREDIT BUREAUCREDIT CARDCREDIT CARD DEBTCREDIT CARDSCREDIT INFORMATIONCREDIT OFFICERSCREDIT PRODUCTSCREDIT PROVIDERCREDIT PROVIDERSCREDIT REGISTRYCREDIT REPORTINGCREDIT RISKCREDITORCREDITSCURRENCYCURRENT ACCOUNTCURRENT ACCOUNTSDEBIT CARDSDEBT COLLECTIONDEPOSITDEPOSIT ACCOUNTSDEPOSIT INSURANCEDEPOSITORSDEPOSITSDEVELOPMENT BANKDISCLOSURE OF INFORMATIONDISCLOSURE REQUIREMENTSDISPUTE RESOLUTIONDISPUTE RESOLUTIONSECONOMIC COOPERATIONELECTRONIC PAYMENTELECTRONIC PAYMENT SYSTEMELECTRONIC TRANSFERSEMPLOYERSEMPOWERMENTENTERPRISE FINANCINGENTRY POINTSEXCLUSIONSEXISTING DEBTFARMERSFINANCE COMPANIESFINANCIAL CONSUMERFINANCIAL COSTFINANCIAL COSTSFINANCIAL CRISISFINANCIAL EDUCATIONFINANCIAL EDUCATION PROGRAMSFINANCIAL HEALTHFINANCIAL INFORMATIONFINANCIAL INSTITUTIONFINANCIAL INTERMEDIARIESFINANCIAL LITERACYFINANCIAL LITERACY INITIATIVESFINANCIAL MARKETSFINANCIAL PLAYERSFINANCIAL PRODUCTSFINANCIAL REGULATIONFINANCIAL REGULATIONSFINANCIAL REGULATORFINANCIAL REGULATORSFINANCIAL SECTORFINANCIAL SECTOR DEVELOPMENTFINANCIAL SERVICEFINANCIAL SERVICE PROVIDERSFINANCIAL SERVICESFINANCIAL SERVICES PROVIDERSFINANCIAL SUPPORTFINANCIAL SYSTEMFINANCIAL TOPICSFINANCIAL VIABILITYFIXED ASSETSFOREIGN CURRENCYFORMAL FINANCIAL INSTITUTIONFORMAL FINANCIAL INSTITUTIONSFORMAL FINANCIAL INTERMEDIARIESFORMAL FINANCIAL SECTORFORMAL FINANCIAL SERVICESFRAUDGUARANTEE FUNDHEALTH INSURANCEINCOMEINCOME GROUPSINCOME LEVELSINDEBTEDNESSINEQUALITIESINFORMATION REQUIREMENTSINFORMATION SHARINGINSTALLMENTINSTALLMENTSINSURANCE COMPANIESINSURANCE PREMIUMINSURANCE PREMIUMSINSURANCE PRODUCTSINSURANCE SCHEMEINSURANCE SERVICESINSURANCESINTEREST RATEINTEREST RATESINTERNATIONAL BANKINVESTMENT PRODUCTSLATE PAYMENTLEGAL FRAMEWORKLEGAL FRAMEWORKSLEGAL PROVISIONSLEGAL REQUIREMENTSLEVEL OF DEBTLEVEL PLAYING FIELDLIABILITYLIFE INSURANCELIFE INSURANCE PREMIUMSLIFE INSURANCESLOANLOAN COOPERATIVESMAINTENANCE CHARGESMAINTENANCE COSTSMARKET PARTICIPANTSMARKET SHAREMARKET TRANSPARENCYMARKETINGMASS MEDIAMFISMICROCREDITMICROFINANCEMINIMUM WAGESMONEY LAUNDERINGMONEYLENDERSMORTGAGEMORTGAGE LOANSMULTIPLE LOANSNATIONAL BANKOUTREACHOVERDRAFTSPAWNSHOPSPAYMENT HISTORYPAYMENT SCHEDULEPAYMENT SERVICEPAYROLL DEDUCTIONSPENALTY FEESPREDATORY LENDINGPREMIUM RATESPRICE STABILITYPRICE TRANSPARENCYPRIVATE BANKSPRIVATE CREDITPRIVATE CREDIT BUREAUPRIVATE FINANCIAL INSTITUTIONSPRUDENTIAL REGULATIONSPUBLIC BANKPURCHASESRECEIPTREGULAR INCOMEREGULATORY AUTHORITIESREGULATORY AUTHORITYREGULATORY FRAMEWORKREGULATORY FRAMEWORKSREPAYMENTREPAYMENT CAPACITYRESPONSIBILITIESSALARIESSALARYSAVINGSSECURITIESSMALLHOLDERSSOLVENCYSOURCE OF INFORMATIONSTAKEHOLDERSSUPERVISORY AGENCIESSUPERVISORY AUTHORITIESTAXTECHNICAL ASSISTANCETELECOMMUNICATIONSTERMS OF CREDITTOTAL COSTTOTAL COSTSTRANSACTIONTRANSACTION COSTSTRANSPARENCYTRANSPARENCY OF INFORMATIONTRUST FUNDUNFAIR BUSINESS PRACTICESUNIONUSURYUSURY LAWVALUABLE10.1596/21486