Consumer protection is integral to building customer trust and is increasingly acknowledged as a cornerstone of a stable financial system. CFI works to ensure that the most vulnerable consumers are protected as they access financial services, by identifying and building knowledge on emerging risks and working with stakeholders—financial service providers, investors, policymakers—to ensure their practices promote the well-being of customers.
Our current agenda tackles some of the most pressing barriers to building a protective and inclusive financial system for low-income clients, including consumer protection challenges presented in the wake of the global pandemic, adoption of tech-enabled market monitoring innovations relevant to consumer protection, and mapping inclusive finance stakeholders and incentives in a dynamic sector of new players.
In 2022, CFI took on the convening role of Responsible Finance Forum (RFF), a coalition of global stakeholders working to assess and manage rapidly evolving consumer risks faced by financial systems and low-income people. The platform provides a forward-thinking space for knowledge-sharing, ongoing research, and global dialogue to improve risk identification and mitigation.
Guided by the widely-adopted Client Protection Principles, consumer protection is woven into all of CFI’s work. It was the driving force of the Smart Campaign, and dozens of organizations that achieved Smart certification demonstrated that consumer protection is woven into their work, too.