This first 2022 issue of the FinCoNet Newsletter includes:
Joint meeting and International Seminar: FinCoNet / G20/OECD Task Force on Financial Consumer Protection
On 28-29 March 2022, FinCoNet held a joint meeting together with the G20/OECD Task Force on Financial Consumer Protection. Following the meeting, on 30 March 2022, FinCoNet and the Task Force hosted an International Seminar on Sustainable Finance through a Financial Consumer Protection Lens.
Financial and Economic Education Initiatives in Japan
The Financial Services Agency (FSA) has tackled financial and economic education to enhance the Japanese financial literacy level, dispatching lecturers to senior high schools and universities. Since the COVID-19 outbreak, the FSA has developed and published video tutorials and guides on its website and YouTube.
FCA review finds evidence of growing competition in retail banking
Building on the 2018 strategic review of retail banking, the FCA have published the 2022 final report on competition in retail banking markets. FCA findings indicate that despite the financial impact of the pandemic, greater competition in retail banking is driving increased choice and lower prices for consumers and small businesses.
The Banco de Portugal’s approach to the supervision of credit intermediaries
Credit intermediaries are natural or legal persons that, while not authorised to grant credit, are involved in marketing consumer and mortgage credit agreements. As part of their activity, credit intermediaries may present or propose credit agreements to consumers, help consumers to prepare said agreements and enter into credit agreements on behalf of creditors. They may also be authorised to provide advisory services regarding credit agreements.