Consumer Protection Laws and Regulations in Deposit and Loan Services : A Cross-Country Analysis with a New Data Set

Ardic, Oya Pinar; Ibrahim, Joyce A.; Mylenko, Nataliya

dc.creator	Ardic, Oya Pinar
dc.creator	Ibrahim, Joyce A.
dc.creator	Mylenko, Nataliya
dc.date	2012-03-19T17:59:58Z
dc.date	2012-03-19T17:59:58Z
dc.date	2011-01-01
dc.date.accessioned	2023-02-17T20:54:08Z
dc.date.available	2023-02-17T20:54:08Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110118134022
dc.identifier	http://hdl.handle.net/10986/3308
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/244188
dc.description	Consumer protection and financial literacy can contribute to improved efficiency, transparency, competition, and access in retail financial markets by reducing information asymmetries and power imbalances between providers and users of financial services. Financial consumer protection has gained significance in policy debates, especially since the onset of the financial crisis in 2008. This paper presents the results of a survey on consumer protection regulations in 142 countries. The findings indicate that although consumer protection legislation is in place in the majority of countries, these do not necessarily address the issues specific to financial services. There is some evidence that enforcement powers and monitoring capacity are limited in many countries, obstructing the effective implementation of the existing regulations. Furthermore, independent third party dispute resolution mechanisms are not widespread. The paper also compiles comprehensive information on laws and regulations relevant for consumer protection and discusses a number of challenges related to empirical analyses of financial consumer protection to enable cross-country comparison.
dc.language	English
dc.relation	Policy Research working paper ; no. WPS 5536
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	ACCESS TO CREDIT
dc.subject	ACCESS TO FINANCE
dc.subject	ACCESS TO FINANCIAL SERVICES
dc.subject	ACCESSIBILITY
dc.subject	ADVERTISEMENT
dc.subject	ADVERTISEMENTS
dc.subject	ANNUAL PERCENTAGE RATE
dc.subject	ANTI-MONEY LAUNDERING
dc.subject	APR
dc.subject	ARREARS
dc.subject	ASYMMETRIC INFORMATION
dc.subject	ATM
dc.subject	ATMS
dc.subject	AVERAGE BALANCE
dc.subject	BANK ACCOUNTS
dc.subject	BANK CHARGES
dc.subject	BANK DEPOSIT
dc.subject	BANK DEPOSITS
dc.subject	BANK PRODUCT
dc.subject	BANKING ACCOUNT
dc.subject	BANKING SERVICES
dc.subject	BANKING SUPERVISION
dc.subject	BANKS
dc.subject	BASIC BANKING
dc.subject	BEHAVIORAL ECONOMICS
dc.subject	BIASES
dc.subject	BORROWER
dc.subject	BORROWING
dc.subject	BUSINESS LENDING
dc.subject	BUYERS
dc.subject	CALCULATION
dc.subject	CALCULATIONS
dc.subject	CAPITAL MARKET
dc.subject	CASH WITHDRAWALS
dc.subject	CHECKS
dc.subject	COLLECTIVE INVESTMENT SCHEMES
dc.subject	COMMERCIAL BANK
dc.subject	COMMERCIAL BANKS
dc.subject	COMMERCIAL TRANSACTIONS
dc.subject	CONSUMER
dc.subject	CONSUMER ACCESS
dc.subject	CONSUMER BEHAVIOR
dc.subject	CONSUMER COMPLAINTS
dc.subject	CONSUMER CREDIT
dc.subject	CONSUMER CREDIT PRODUCTS
dc.subject	CONSUMER FINANCE
dc.subject	CONSUMER LENDING
dc.subject	CONSUMER LOAN
dc.subject	CONSUMER LOANS
dc.subject	CONSUMER PROTECTION
dc.subject	CONSUMER PROTECTION LAW
dc.subject	CONSUMER PROTECTION LAWS
dc.subject	CONSUMER PROTECTION MEASURES
dc.subject	CONSUMER PROTECTIONS
dc.subject	CONSUMER RIGHTS
dc.subject	CONSUMERS
dc.subject	CONTRIBUTION
dc.subject	COST OF CREDIT
dc.subject	CREDIT ALLOCATIONS
dc.subject	CREDIT BUREAUS
dc.subject	CREDIT CARD
dc.subject	CREDIT CARD ISSUERS
dc.subject	CREDIT CARDS
dc.subject	CREDIT FACILITIES
dc.subject	CREDIT INFORMATION
dc.subject	CREDIT INFORMATION BUREAUS
dc.subject	CREDIT INSTITUTIONS
dc.subject	CREDIT LINE
dc.subject	CREDIT MARKET
dc.subject	CREDIT MARKETS
dc.subject	CREDIT PRODUCTS
dc.subject	CREDIT REPORTING
dc.subject	CREDIT TRANSACTIONS
dc.subject	CREDITOR
dc.subject	CREDITS
dc.subject	CURRENT ACCOUNTS
dc.subject	CUSTOMER SERVICE
dc.subject	DEBT
dc.subject	DEBT COLLECTION
dc.subject	DEBTORS
dc.subject	DEBTS
dc.subject	DEPOSIT
dc.subject	DEPOSIT ACCOUNT
dc.subject	DEPOSIT ACCOUNTS
dc.subject	DEPOSIT INSURANCE
dc.subject	DEPOSITOR
dc.subject	DEPOSITORS
dc.subject	DEPOSITS
dc.subject	DEVELOPING FINANCIAL MARKET
dc.subject	DISCLOSURE OF INFORMATION
dc.subject	DISCLOSURE REQUIREMENT
dc.subject	DISCLOSURE REQUIREMENTS
dc.subject	EARNINGS
dc.subject	ECONOMIC DEVELOPMENT
dc.subject	ELECTRONIC BANKING
dc.subject	ELECTRONIC PAYMENTS
dc.subject	ENFORCEMENT MECHANISM
dc.subject	ENFORCEMENT MECHANISMS
dc.subject	EQUAL ACCESS
dc.subject	EXCESSIVE INTEREST RATES
dc.subject	FEDERAL RESERVE
dc.subject	FEDERAL RESERVE BANK
dc.subject	FINANCES
dc.subject	FINANCIAL ACCESS
dc.subject	FINANCIAL ACTIVITY
dc.subject	FINANCIAL ADVISERS
dc.subject	FINANCIAL COMPANIES
dc.subject	FINANCIAL CONCEPTS
dc.subject	FINANCIAL CONSUMER
dc.subject	FINANCIAL CONSUMERS
dc.subject	FINANCIAL CRISIS
dc.subject	FINANCIAL EDUCATION
dc.subject	FINANCIAL EXPERIENCES
dc.subject	FINANCIAL INSTITUTION
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL INSTRUMENTS
dc.subject	FINANCIAL LITERACY
dc.subject	FINANCIAL LITERACY PROGRAMS
dc.subject	FINANCIAL MARKET
dc.subject	FINANCIAL MARKETS
dc.subject	FINANCIAL MATTERS
dc.subject	FINANCIAL PRODUCT
dc.subject	FINANCIAL PRODUCTS
dc.subject	FINANCIAL REGULATOR
dc.subject	FINANCIAL REGULATORS
dc.subject	FINANCIAL SECTOR
dc.subject	FINANCIAL SERVICE
dc.subject	FINANCIAL SERVICE PROVIDERS
dc.subject	FINANCIAL SERVICES
dc.subject	FINANCIAL SERVICES INDUSTRY
dc.subject	FINANCIAL SERVICES REGULATION
dc.subject	FINANCIAL STABILITY
dc.subject	FINANCIAL SYSTEM
dc.subject	FINANCIAL TRANSACTIONS
dc.subject	FOREIGN CURRENCY
dc.subject	GENERAL PUBLIC
dc.subject	GOVERNMENT INTERVENTION
dc.subject	GREATER ACCESS
dc.subject	GUARANTORS
dc.subject	HOUSEHOLD FINANCE
dc.subject	HOUSEHOLDS
dc.subject	ID
dc.subject	ILLITERACY
dc.subject	INCOME
dc.subject	INCOME GROUP
dc.subject	INCOME LEVELS
dc.subject	INDEBTEDNESS
dc.subject	INEQUALITY
dc.subject	INFORMATION ASYMMETRIES
dc.subject	INSTITUTIONAL CAPACITY
dc.subject	INSURANCE
dc.subject	INSURANCE COMPANIES
dc.subject	INTEREST RATE
dc.subject	INTEREST RATES
dc.subject	INTERNATIONAL BANK
dc.subject	INVESTING
dc.subject	INVESTMENT COMPANIES
dc.subject	KEY CHALLENGE
dc.subject	LENDERS
dc.subject	LIABILITY
dc.subject	LIFE INSURANCE
dc.subject	LOAN
dc.subject	LOAN CONTRACT
dc.subject	LOAN REPAYMENT
dc.subject	LOAN TERMS
dc.subject	LOW INCOME
dc.subject	LOW-INCOME
dc.subject	LOW-INCOME INDIVIDUALS
dc.subject	MARKETING
dc.subject	MEDIUM ENTERPRISES
dc.subject	MICROFINANCE
dc.subject	MICROFINANCE INSTITUTIONS
dc.subject	MINIMUM BALANCE
dc.subject	MONEY LENDING
dc.subject	MORTGAGE
dc.subject	MORTGAGE CREDIT
dc.subject	MORTGAGE MARKET
dc.subject	MORTGAGES
dc.subject	NATIONAL BANK
dc.subject	OFFICE OF FAIR TRADING
dc.subject	OUTSTANDING BALANCE
dc.subject	OVERDRAFT
dc.subject	PAYMENT SERVICE
dc.subject	PAYMENT SERVICES
dc.subject	PENSION
dc.subject	PENSIONS
dc.subject	PROTECTION OF CONSUMER
dc.subject	PROTECTION OF CONSUMERS
dc.subject	PUBLIC POLICY
dc.subject	PUBLIC-PRIVATE PARTNERSHIPS
dc.subject	REMITTANCE
dc.subject	REPAYMENT
dc.subject	RESEARCH ASSISTANCE
dc.subject	RESERVE BANK
dc.subject	RETAIL CREDIT
dc.subject	RETAIL FINANCIAL MARKETS
dc.subject	RETAIL FINANCIAL SERVICES
dc.subject	RETIREMENT
dc.subject	RETIREMENT SAVINGS
dc.subject	RETIREMENT SAVINGS ACCOUNTS
dc.subject	SALARIES
dc.subject	SALE
dc.subject	SALES
dc.subject	SAVINGS
dc.subject	SAVINGS ACCOUNTS
dc.subject	SCAM
dc.subject	SECURITIES
dc.subject	SOLVENCY
dc.subject	STATE BANK
dc.subject	TOTAL COST
dc.subject	TRANSPARENCY OF INFORMATION
dc.subject	TYPES OF CONSUMER
dc.subject	UNEMPLOYMENT
dc.subject	UNION
dc.subject	UNREGULATED FINANCIAL INSTITUTIONS
dc.subject	URBAN DEVELOPMENT
dc.subject	USURY
dc.subject	UTILITY BILLS
dc.subject	WAGES
dc.subject	WEB SITE
dc.subject	WITHDRAWAL
dc.subject	WITHDRAWAL FEES
dc.subject	WORTH
dc.title	Consumer Protection Laws and Regulations in Deposit and Loan Services : A Cross-Country Analysis with a New Data Set
dc.type	Publications & Research :: Policy Research Working Paper
dc.coverage	The World Region
dc.coverage	The World Region