Full Description
The book addresses the current challenges faced by financial consumers in the context of enormous technological developments. This edited collection covers safeguarding financial consumers, encompassing topics such as financial inclusion, data protection and consumer over-indebtedness. Addressing specific issues related to vulnerable consumer groups and the increasing digitization of financial services, it grapples with the emerging challenge demanding that consumers possess technological literacy.
The book offers a distinct new perspective, going beyond the traditional understanding of financial inclusion, which typically only considers the possession of a bank account. Instead, it explores new dimensions, including the obstacles consumers face in obtaining credit, establishing a credit history, and coping with issues such as being blacklisted. The book explores diverse strategies for enhancing financial inclusion, such as leveraging data, and open banking. It also scrutinizes the pursuit of credit fairness and examines methods to either mitigate or effectively address over-indebtedness, a persistent and formidable challenge for financial consumers.
The book will be of interest to researchers, practitioners, and governmental organisations in the field of finance law and the law of emerging technologies.
Contents
Introduction PART I: ACCESS 1. Protection of the financial consumers in the EU against unfair contract terms in the foreign currency loans 2. Unveiling Digital-Financial Exclusion Among the Elderly: Gaps in Knowledge and Methodology 3. Knowledge and competence requirements in the Mortgage Credit Directive: An adequate protection of financial illiterate consumers? 4. Blacklisting Defaulting Consumers in Credit Information Registers - Lessons from Estonia and Finland 5. The Poor Pay More (with Data) - Strategies and Legal Solutions in the USA and the EU for Credit Invisibles and the Poorly Scored PART II: DIGITALISATION 6. CBDCs and Vulnerable Consumers: Risks and Opportunities for Financial Inclusion and Access to Credit 7. Open Banking and Consumer Protection: The Canadian Perspective 8. Online Dispute Resolution as a Forum for Resolving Algorithmic Trading Error Dispute in Financial Market PART III: OVER-INDEBTEDNESS 9. The 2021 Reform of the Brazilian Consumer Code in Consumer Credit and Over-Indebtedness: Effectiveness and Unanswered Questions 10. The in Duplum Rule in South Africa and Kenya: A Tool to Protect Over-indebted Consumers or Regulate Banking? 11. Buy Now, Pain Later? Over-Indebtedness of Young Individuals Conclusion
