Consumer protection & compliance: the shape of regulation and improving transparency
Since the start of the economic crisis, all organizations — and banks in particular — have experienced huge challenges in maintaining existing customer relationships. The crisis has directly affected customers' perceptions of their banks and the way that they interact with their providers.
The US Consumer Financial Protection Bureau is establishing rules on loans and financial products offerings, while the European Commission has proposed improved requirements on protection and information, and rules on responsible lending. Worldwide regulators are proposing a raft of changes to consumer compliance laws and regulations.
Setting out a clear strategy is becoming more difficult as regulatory and political intervention changes the market structure and banks are under enormous pressure to restore public confidence. As banks respond to emerging pressures across markets and strive to obtain a competitive advantage, the challenge remains to improve the customer experience and enhance brand perceptions.
Read about the consumer protection agenda and learn how banks can meet emerging standards while driving growth.
The European Commission released proposed rules to amend MiFID I, but is it incremental change or fundamental reform? Our summary examines the potential impacts.
Feedback from the banking industry has been largely positive -- just don't expect it to last.
Go beyond the Consumer Financial Protection Board's complaint-handling processes and implement important strategies for growth and retention.
The US Consumer Financial Protection Bureau brings a different style to the regulatory landscape. Discover what banking leaders think of this agency so far.
Careful planning is crucial for the successful implementation and adaptation of changes required by the Dodd-Frank Act. Read this short viewpoint to get started.