Disclosure and pricing transparency are  important building blocks for countries looking to develop effective consumer protection regimes. They also are of particular importance for low-income populations, who often have lower levels of literacy and numeracy, and limited experience with formal financial products. Recognizing  this, CGAP has been using consumer research to inform consumer protection policymaking  [...]

We know that most low income people use a variety of financial instruments, both formal and informal, to manage their complex lives.  When considering the safety of these options, we often take it for granted that formal instruments are safer, yet we continuously hear of those who have experienced or heard of a financial loss from [...]

The main objective of the diagnostic study undertaken in Senegal in early 2011 was to develop a better understanding of microfinance clients’ protection and suggest possible improvements. A CGAP-GIZ team met with microfinance stakeholders (regulators, consumers associations, microfinance association, donors) and reviewed legislation and regulations. However, this alone would have only given us a one-side [...]

Which one of these would you trust and use more for your financial needs: A pawn shop or a bank? If you are a low-income financial consumer in Mexico, the answer is quite likely the pawn shop, due both to social factors (“they treat us with respect when we enter”) and product features such as [...]