> Posted by Leslie Barcus
The recent release of “Consumer Protection: Balancing Rights and Responsibilities,” by Microfinance Opportunities (MFO) gives clients a confident and informed voice to exercise their rights and responsibilities when using formal and informal financial services. This resource manual is structured as a training guide and frames the relationship between the client and the financial provider. “MFO felt strongly about writing this manual in order to bring the client perspective front and center in the discussion on client protection,” notes MFO’s Founder and President Monique Cohen.
Focusing on the rights and responsibilities of the client, the resource manual emphasizes the client’s contractual obligations and what that means for managing debt, calculating interest rates and costs, understanding appropriate debt and collection practices and providing justified complaints. With this publication, MFO pushes financial literacy beyond the basic trinity of budgeting, savings and debt management.
Key messages are easily identifiable in the training guide and can be adapted for a range of delivery methods, from face-to-face training to other learning channels, including video, radio and print media. MFO invites users to download the resource manual and a related video. For more information, please contact Leslie Barcus at Leslieb@mfopps.org.