Consumer Financial Services
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Consumer Financial Services Answer Book 2015 Edition
Author | : Richard E. Gottlieb,Arthur B. Axelson,Thomas M. Hanson |
Publsiher | : Unknown |
Total Pages | : 1222 |
Release | : 2014 |
Genre | : Class actions (Civil procedure) |
ISBN | : 140242261X |
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Consumers in the Financial Services Sector computer File
Author | : Kerton, Robert R,Task Force on the Future of the Canadian Financial Services Sector |
Publsiher | : Unknown |
Total Pages | : 267 |
Release | : 1998 |
Genre | : Consumer protection |
ISBN | : OCLC:56311151 |
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Banking.
An Overview of Consumer Finance and Policy Issues
Author | : Cheryl R Cooper |
Publsiher | : Unknown |
Total Pages | : 38 |
Release | : 2019-08-02 |
Genre | : Electronic Book |
ISBN | : 1086896912 |
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Consumer finance refers to the saving, borrowing, and investment choices that households make over time. These financial decisions can be complex and can affect households' financial wellbeing both now and in the future. Safe and affordable financial services are an important tool for most American households to avoid financial hardship, build assets, and achieve financial security over the course of their lives. Understanding why and how consumers make financial decisions is important when considering policy issues in consumer financial markets. Households borrow money for the following common reasons: investments-such as a home or education-to build future wealth, consumption smoothing (i.e., paying later to consume things now), and emergency expenses. Most households rely on credit to finance some of these expenses, because they do not have enough money saved to pay for them. According to the Federal Reserve Bank of New York, mortgage debt is by far the largest type of debt for households, accounting for approximately 67% of household debt. Student debt is the second-largest household debt, followed by auto loans and credit cards. Consumer financial markets generally share similar market dynamics. In all of these markets, consumers often act in similar ways when making financial decisions and firms tend to act in comparable ways to attract consumers. Therefore, the government tends to consider similar policy interventions when regulating in these markets. Competitive free markets generally lead to efficient distributions of goods and services to maximize value for society. Yet sometimes, free markets are inefficient when particular issues arise. Common issues in consumer financial markets include (1) information asymmetries between financial firms and consumers and (2) behavioral biases that predictably bias consumers when making financial decisions. In these cases, government policy can potentially correct market failures to bring the market to a more efficient outcome, maximizing social welfare. In consumer finance, three types of policy interventions are common: (1) standardized consumer disclosures; (2) regulation to prevent deceptive, unfair, or abusive financial institution practices; and (3) regulation to prevent discrimination in consumer-lending markets. Yet, policymakers need to be aware of unintended consequences of proposed policies, and often find it challenging to determine whether a policy intervention will help or harm a particular market's efficiency. In response to the 2007-2009 financial crisis, the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act (DoddFrank; P.L. 111-203) established the Bureau of Consumer Financial Protection (CFPB) to implement and enforce federal consumer financial law while ensuring consumers can access financial products and services. The CFPB's authorities fall into three broad categories: rulemaking, writing regulations to implement laws under its jurisdiction; supervision, the power to examine and impose reporting requirements on financial institutions; and enforcement of various consumer protection laws and regulations. The CFPB generally has regulatory authority over providers of an array of consumer financial products and services. The major consumer financial markets include mortgage lending, student loans, automobile loans, credit cards and payments, payday loans and other credit alternative financial products, and checking accounts and substitutes. In addition, two important market structures allow these consumer financial products to be offered: (1) the consumer credit reporting system and (2) the debt collection market. These aspects of the consumer credit system facilitate the pricing of credit offers and the resolution of delinquent consumer credit products for most consumer credit markets.
Consumer Financial Services
Author | : Andrew L. Sandler,Benjamin B. Klubes |
Publsiher | : Law Journal Press |
Total Pages | : 1084 |
Release | : 2001 |
Genre | : Business & Economics |
ISBN | : 1588521001 |
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This book presents an analysis including the impact of more than fifteen federal statutes-ranging from the Civil Rights Act of 1866 to the Fair and Accurate Credit Transactions Act-on the banking.
Consumer Financial Services Policy Session edited
Author | : United States. Federal Trade Commission |
Publsiher | : Unknown |
Total Pages | : 202 |
Release | : 1980 |
Genre | : Consumer credit |
ISBN | : UCAL:C3082846 |
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Service Selling
Author | : Robert G. Stemper |
Publsiher | : John Wiley & Sons |
Total Pages | : 246 |
Release | : 1991-09-03 |
Genre | : Business & Economics |
ISBN | : 0471540307 |
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A guide to improving sales and profits in consumer financial services that stresses the development of a sales and service culture. The key principles discussed are interaction with customers, cultural support and values, service from the customer's point of view, service selling, characteristics of successful sales organizations, star sales people, perfecting the sales process, dealing with prospective clients, and ongoing interaction with the client.
H R 4332
Author | : United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit |
Publsiher | : Unknown |
Total Pages | : 112 |
Release | : 2008 |
Genre | : Banks and banking |
ISBN | : STANFORD:36105050473243 |
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Improving Consumer Financial Literacy Under the New Regulatory System
Author | : United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit |
Publsiher | : Unknown |
Total Pages | : 192 |
Release | : 2009 |
Genre | : Financial literacy |
ISBN | : PURD:32754081202941 |
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