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Consumer capacity building – CI runs a useful e-learning course on consumer financial protection but lets the industry run the training.

Consumers International has a launched a programme on financial consumer protection (FCP) with E-learning units for its members and supporters.Consumer representatives and advocates need training in financial services and often the industry is relied upon to impart some of the know-how required to understand the markets, products and rules in order to better serve consumers. While the offering of E-learning modules is a positive development, the input of the industry to explain regulation, even if self-regulating rules, should be treated carefully to ensure an appropriate independence of the training. While the SMART Campaign has developed some beneficial Client Protection principles for its members lending to consuemrs in developing countries, it is still a body that has private business interests at the core of its activities and thus potentially subject to conflicts of interest when giving advcie to consumers or consumer advisors.

Press release from Consumers International from Wednesday, 4 June 2014

Empower financial consumers with CI's latest e-learning course

CI's financial services expert Nicola O'Reilly outlines our new e-learning course on basic financial services – a great way to help consumer advocates campaign for better protection.

Our aim to develop a stronger consumer movement will be taking a major new step over the next couple of months with the launch of our second e-learning course.
Free to staff of CI
Members and CI Supporters, our second course looks at how consumer groups can use, understand and influence policies and practices in financial services.
We have partnered with the
SMART CAMPAIGN to deliver this course which is based on their Client Protection Principles.
With an estimated 150 million consumers entering the financial services market each year, we also need many more consumer advocates working in this area to ensure the way consumers spend, save, send and receive money is secure and reliable and clearly and competitively priced.
You can receive updates on how to register by downloading the application form
on the CI website.

The course is made up of five one-hour sessions, taken over a five week period starting on 18 June 2014.

The seminars are conducted online via our Adobe Connect service, with an offline alternative for those with unreliable internet. This e-learning experience will give consumer advocates the knowledge and confidence to:

  • Understand what financial consumer protection looks like in practice
  • Explain to others the need for financial consumer protection and the role of consumer advocates
  • Show how good practices in financial services can improve the consumer experience
  • Find tools and resources needed to develop advocacy campaigns in financial services    
  • Know how to use consumer advocacy to improve financial consumer protection.

This course is specifically designed for those who know about consumer protection and are looking to apply that knowledge to financial services. Each seminar will include a tutorial, with a speaker from CI and an expert from our partners at the SMART CAMPAIGN and a Q and A session.
Participants who complete the course can expect to earn a certificate, signed by CI, giving them the confidence and credibility to engage their national standard body on consumer issues within the international context.
Why is CI doing this? Consumers International exists for two reasons: to campaign for consumer rights at the international level and help develop consumer rights protection where it’s needed most.
On the first issue we are working with our Members and Supporters in every region of the world – and with international decision-making bodies such as the G20 – to stand up and demand a better deal for consumers.
On the second issue (what we at CI call Organisational Empowerment) we are putting tremendous efforts into improving consumer protection in countries and communities where it is poor or non-existent. Financial services is used by consumers all over the world on a daily basis, those consumers need representation, so we are providing this e-learning to support more consumer advocates to work in the area.
We hope that our financial services e-learning course (together with others we have planned on campaigning, business development and communications) will help our Members and Supporters effectively serve and protect consumers. Don’t forget to email if you want find out more or simply download an application
from the CI website.

Each session will describe the topic, set out the consumer protection issues and  discuss actions providers and consumer advocates can take to enhance consumer protection. The themes for each week are:

  • Week 1: Appropriate Product Design and Delivery
  • Week 2: Prevention of Over-indebtedness
  • Week 3: Transparency and Responsible Pricing
  • Week 4: Treating Customers Fairly
  • Week 5: Data Privacy and Complaints Resolution

ID: 48651
Publication date: 15/06/14

CI: Take our financial services e-learning course (June 2014)

Created: 13/10/14. Last changed: 13/10/14.
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