The FinCoNet Annual General Meeting was hosted by the Central Bank of Portugal, in Lisbon, Portugal, on 14-15 November 2013.
FinCoNet AGM
On day one, a new international organisation of financial consumer protection supervisory authorities was formally established. The new organisation (to be known as FinCoNet) replaced the informal network of supervisory authorities which had existed for a number of years. At the AGM, FinCoNet elected its first Governing Council.
This was followed by a presentation from the World Bank on the results of the Global Survey on Financial Consumer Protection. Participants also had the opportunity to engage in a roundtable blue sky session focused on consumer protection issues, trends and priorities.
On day two, participants discussed a number of other important consumer protection issues, including bank bundling and tying clauses, distorting incentives paid to intermediaries in the credit market and regulation of consumer safeguards in electronic banking and electronic payments.
