FinCoNet’s initial focus is on consumer credit and banking issues, aiming to strengthen consumer confidence while reducing systemic risks. Banking and credit in particular play such an important part in the lives of so many consumers that supervisory authorities must work together and support each other to help develop strong consumer protection frameworks.

We are assessing the strengths and weaknesses of existing institutional arrangement models of supervisory authorities and identifying effective approaches that can assist financial consumer protection supervisors in carrying out their responsibilities.

Looking to raise international standards, the organisation will also examine how supervisory tools can ensure responsible lending takes place.




 

 Members are currently considering:

  • Mystery shopping
  • Mortgage credit lending in the EU
  • Mortgage arrears – framework to protect borrowers
  • Research on licensed moneylenders
  • New EU rules on payment services
  • UK consumer credit new regulatory regime
  • Mobile payments and consumer protection
  • Bank bundling and tying clauses
  • Incentives paid to intermediaries in the credit market