Enhancing Consumer Protection and Bank Products Information

Description

In respect of financial services, consumers complaint on the lack of knowledge and/or information or of clarity of the contractual terms. The terminology used by the financial industry should be simpler and understandable for all consumers.

Impact Drivers

Public: Better information could enable consumers to make better choices.

Private: Standard information to customers could decrease banks’ costs with solving unsatisfied clients’ complaints and could enhance competition.

Terms of Reference

• TOR