In the March 2020 edition of the FinCoNet newsletter, Chair Maria Lucia Leitão addresses the challenges posed by the COVID-19 pandemic, emphasizing the importance of information sharing among members. To facilitate this, the OECD Secretariat has circulated a questionnaire inviting members to share financial consumer protection measures being implemented or considered in their jurisdictions. The collected responses aim to provide valuable insights and support during these unprecedented times.
Other notable contributions include an article by Banco de Portugal discussing best practices for fee disclosure through digital channels, aiming to improve transparency and customer awareness regarding banking fees. The newsletter also features insights from the Consultative Group to Assist the Poor (CGAP) on the potential biases in algorithm-based credit scoring, urging for greater scrutiny and fairness in automated credit assessments. Furthermore, SBS Peru shares amendments to credit and debit card regulations designed to enhance customer protection and security measures.