Protecting financial consumers during the COVID-19 crisis

Financial regulators around the world are struggling to deal with the impact of the COVID-19 pandemic. As consumers’ financial circumstances deteriorate as a result of the crisis, it is crucial to ensure that financial institutions treat consumers fairly and bad behavior does not add to consumer suffering. International media and organizations have highlighted concerns, such as consumer over-indebtedness increasing quickly due to the crisis and fraudsters exploiting fears over the pandemic to target financial consumers. Regulators are recognizing...