1. CI financial services programme 2013

2. Consumers International’s priorities for 2013 International agreements and processes 1.G20 agenda on financial consumer protection 2.ISO standard on mobile payments 3.Revision of the UN Guidelines for Consumer Protection Topic specific issues 4.Banking culture and sales incentives 5.Structure, mandate and functions of financial consumer protection Fundraising to support financial consumer protection 6.International initiative to support CI and our members work on financial services 7.International money transfers

3. 1. G20 agenda on Financial Consumer Protection Background See flow chart on CI website International relevance Scandals continue to shake the financial sector and many countries are undergoing regulatory reforms. G20 banks still dominate international markets. G20 work on FCP is influencing networks beyond the G20.

4. G20 agenda on financial consumer protection Aims for 2013 G20/OECD principles for financial consumer protection. The ‘effective approaches’ for implementing the G20 /OECD principles reflect CI recommendations. There is a clear timetable for their development. A process for peer reviewing implementation is agreed. The International Network for Financial Consumer Protection (FinCoNet) The network is established with sufficient resources. FinCoNet work on ‘responsible lending’ and ‘oversight bodies’ reflects CI recommendations.

5. G20 agenda on Financial Consumer Protection CI will work with members to: Lobby influential groups and individuals to support our aims. Gather national examples and feed into the work of the G20/ OECD taskforce and FinCoNet on: Disclosure and transparency. Responsible business conduct. Complaints handling and redress. Role of oversight bodies Responsible lending

6. 2. ISO standard on mobile payments Aim for 2013 The new ISO standard on mobile payments addresses consumer concerns about security, data privacy and redress. Mobile payments have brought real benefits for consumers including access and convenience. CI will work with members to: Input into 6 draft papers on different aspects of the new mobile payments standard.

7. ISO mobile banking 6 draft papers: General framework Security Applications C2C payments C2B payments Mobile banking

8. 3. Revision of UN Guidelines for Consumer Protection Aim for 2013 Proposals for the revision of the UNGCP include strong guidance for protecting consumers of financial services. FS should be covered by all the general consumer protections referred to in the main body of the guidelines. In addition specific issues such as the complexity of financial products, deposit protection and the stability of the sector should be addressed in a dedicated FS section. CI will work with members to: Ensure government support for our proposals

9. 4. Banking culture and sales incentives Aim for 2013 Action is taken against sales incentives that encourage the miss-selling of financial services such as loans consumers cannot afford or insurance they don’t need. CI will work with members to: work with members to gather evidence of inappropriate sales incentives and miss-selling Feed findings into G20 work on ‘responsible business practices’ and ‘responsible lending’ Support members lobbying for national action on inappropriate incentives.

10. 5. Structure, mandate and functions of financial consumer protection Aim for 2013 CI members have the tools they need to campaign for improved national financial consumer regulation and supervision CI will work with members to: Develop a question based tool that members can use to assess the structure, mandate and functions of financial consumer protection in their country. Consider potential to use the assessment tool for regional or international comparative surveys in 2014.

11. CI will seek support for CI and our members work on financial consumer protection 6. An international initiative to support CI members work on financial consumer protection. There is an urgent need to support consumer organisations’ provision of financial education, advice and mediation, as well as national and international advocacy towards providers and regulators. 7. International money transfers. To help consumer organisations research international money transfers, challenge the lack of competition and provide information to consumers.

12. Thank you jmacmullan@consint.org rsimpson@consint.org