A new CGAP (Consultative Group to Assist the Poor) Focus Note examines “what consumer protection regulation should look like in places where consumers are poor, access to finance is limited, and regulatory capacity is often overstretched.” The main goals of consumer protection, according to the article, are transparent pricing, truth in advertising and fair collection practices. The Focus Note includes a tool to help regulators assess consumer protection concerns in their own markets and options to address them.

“But whatever the strategy, the best way to put consumer protection principles into practice in low access environments is to tailor the solutions to each individual context,” says CGAP expert Ms Kate McKee.

By: Stefanie Rubin, Research Associate

About CGAP (Consultative Group to Assist the Poor):

Housed at the World Bank Group, CGAP (Consultative Group to Assist the Poor) is an independent policy and research center dedicated to providing financial access for the world’s poor. CGAP is supported by over thirty development agencies and private foundations. Its mission is to provide market intelligence, to promote standards and to offer advisory services to governments, microfinance providers, donors and investors.

Additional Resources:

Source Article: CGAP: “Putting Consumer Protection into Action: Options for Developing Countries,” http://www2.cgap.org/p/site/c/template.rc/1.26.12805/

MicroCapital Universe: CGAP: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=CGAP+%28Consultative+Group+to+Assist+the+Poor%29