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Consumers International publish some details on consumer finance and consumer protection measures in non-EU countries, and a worldwide overview of consumer protection generally including a database

Here attached are two reports recently published by Consumers International. The first contains examples of better practice in consumer protection measures related to financial services’ markets, the second covers the state of consumer protection in the world (but not only with regard to financial services).  

In search of good practices - Financial consumer Protection (February 2013)

Introduction

In September 2010 Consumers International (CI) launched a new global campaign calling for fairer financial services. Over the last two years we have been campaigning and lobbying globally through our World Consumer Rights Day campaign and at the G20, the OECD and the Financial Stability Board to establish new processes and principles that will support improvements in financial consumer protection around the world. Alongside this work we have also written a number of papers and booklets with recommendations and examples that we hope support CI members in their national campaigns.

Good practices in financial consumer protection

The aim of this paper was to highlight examples of ‘good practice’ in financial consumer protection, including regulations, practices or processes that have helped to ensure consumers of financial services are treated fairly and get the protection they need. To help compile our examples we asked CI members to provide us with suitable examples of government regulation, industry self-regulation or co-regulation that relate to financial services such as banking, savings and credit. Examples were collected between March and April 2012. In the survey we didn’t employ a strict definition of ‘good practice’, but rather invited our members to decide if a practice was ‘good’ because it has made a significant positive difference for consumers or because it met expectations or recommendations in that area. However, even with this flexibility the term ‘good practice’ can be problematic as the picture is rarely black and white. In several cases reforms have been good in some respects and disappointing in others. Also, what may seem to be a ‘good’ practice and which may have been welcomed by our members in principle, may turn out to be disappointing. Several examples are given which demonstrate this pattern.......

(see attachment below)

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The state of consumer protection around the world

Consumer protection plays a crucial role in building a fairer, safer world. Consumers International (CI), the global federation of consumer organisations, set out to assess the state of consumer protection around the world through a global survey of its member organisations. Seventy consumer groups from 58 countries participated in this research, which covers a wide range of consumer protection issues.

The results provide an insightful global snapshot of consumer protection across a wide spectrum of countries, and an invaluable contribution to CI’s work on consumer justice and protection. The results of this survey also come at an important time in the ongoing international development of consumer protection.

The key principles of consumer protection were first enshrined at an international level in the UN Guidelines for Consumer Protection (UNGCP). Since being established in 1985, the UNGCP now form the basis of consumer protection legislation in many countries around the world. At the time of writing, a review of UNGCP is under way, led by the UN Conference on Trade and Development (UNCTAD). CI and its member organisations are contributing to this process (which will be completed in 2014) to ensure that the guidelines are revised to reflect the reality faced by consumers in the 21st Century. While this report does not include a comprehensive set of recommendations, the results of this survey provide invaluable support both to the review of the UNGCP, but also to ongoing reforms of consumer protection regimes across the world.

CI would like to thank all the organisations that participated for devoting their time and resources to completing the survey. For more information on the organisations involved, methodology used and classification of countries, please see the relevant annexes. The full quantitative dataset can be downloaded at:


Contents

General consumer protection measures ........................................................................................... 3

Consumer protection measures in specific sectors........................................................................... 13

The legitimate needs of consumers................................................................................................... 17

The consumer rights movement........................................................................................................ 22

Annex I: Notes on the methodology.................................................................................................. 27

Annex II: The questionnaire and top line quantitative results........................................................... 29



ID: 48265
Publication date: 21/03/13
   
URL(s):

www.consumersinternational.org
 

Created: 25/03/13. Last changed: 25/03/13.
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