Customer protection as a tool for building safe and consumer-friendly financial services market
Customer protection as a tool for building safe and consumer-friendly financial services market

Summary/Abstract: One of the most important lessons to be drawn from the recent financial and economic crisis is the need to strengthen consumer protection and restore public confidence in financial system. The events on financial markets show that abusing and deceptive practices in connection with financial illiteracy and weak customer protection can lead in some cases to severe financial turbulences. The main objective of the article is to discuss the idea of consumer protection and indicate its role in building safer and more consumer-friendly financial services market, by pointing out its potential positive, multidirectional influence on financial markets.

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