Financial Consumer Protection_ Issue 28

Consumer confidence and trust in a well-functioning market for financial services promotes financial stability, growth, efficiency and innovation over the long term. Thus, enabling the customers to make acquainted decisions on how to use financial services efficiently, building a stronger trust in the formal financial sector, and contributing to competitive financial markets. Financial consumer protection is an increasing priority for policymakers around the world, Financial Consumer Protection: Financial Infos Issue (28) Enhancing Consumer Protection is an important pillar for the financial services industry. As it has shown significance since the financial crisis 2008. Therefore, international organizations are working to ensure that both the financial sector and consumers are informed of their rights and responsibilities through public education and information programs. In November 2010, World Bank launched a global program for consumer protection and financial literacy, two years later it developed good practices for consumer financial protection.