Banking Regulation in Israel: Balancing Systemic Stability and Consumer Protection

Abstract: Bank customers/consumers are the drivers of the banking industry. Their protection should be a priority. This is because consumer protection boosts consumer confidence and enhances banking quality. This may be the reason the Central Bank of Nigeria (CBN) made consumer protection part of its reform policies in the banking industry. This paper examined the legal regime on banking regulation and consumer protection. The banking sector regulatory laws were critically examined. These included the Consumer Protection Council Act, 1992, the Banking Act 1969, and the Central Bank of Nigeria Act 2007, etc. The analysis revealed that the banking laws and the regulatory institutions provide inadequate protection for the banking consumer. This is a cause for concern to the banking consumers in the country. This state of things could be considered as the contributory fact or for growing consumer rights abuses and humiliation in the Nigerian banking industry. Keywords: Consumer abuses, Legal regime, Central Bank, Regulatory, Nigeria. Abstrak: Pelanggan bank/pengguna merupakan penggerak kepada industri perbankan. Perlindungan kepada mereka sepatutnya menjadi keutamaan. Ini adalah kerana perlindungan kepada pengguna akan menggalakkan keyakinan pengguna dan meningkatkan lagi kualiti perbankan. Perkara ini mungkin menjadi alasan Bank Negara Nigeria menjadikan perlindungan pengguna sebahagian daripada polisi pembaharuannya dalam industri perbankan. Artikel ini mengupas rejim perundangan berkaitan peraturan perbankan dan perlindungan pengguna. Undang-undang perintah sektor perbankan dikaji secara kritikal. Undang-undang ini termasuklah Consumer Protection Council Act 1992, Banking Act 1969, Central Bank of Nigeria Act 2007 dan lain-lain. Analisis telah menunjukkan bahawa undang-undang perbankan dan institusi-institusi berkaitan menyediakan perlindungan yang tidak mencukupi kepada pelanggan bank. Ini merupakan sebab utama kepada keprihatinan terhadap pengguna-pengguna perbankan di negara ini. Keadaan ini boleh dianggap sebagai fakta penyumbang kepada peningkatan penyalahgunaan hak-hak pengguna dan penindasan dalam industri perbankan di Nigeria. Kata kunci: Penindasan pengguna, Rejim undang-undang, Central Bank, Peraturan, Nigeria.

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Difficulties of the Financial Reform in the USA

Voprosy Ekonomiki ◽

10.32609/0042-8736-2013-10-147-158 ◽

2013 ◽

pp. 147-158

Author(s):

V. Kulakova

Keyword(s):

Economic Policy ◽

Consumer Protection ◽

Financial Regulation ◽

Financial Reform ◽

Wall Street ◽

Political Sciences ◽

Consumer Protection Act ◽

The Usa ◽

Major Factors ◽

International Financial Regulation

We study the reform of financial regulation initiated by the Dodd—Frank Wall Street Reform and Consumer Protection Act of 2010. Major factors impeding Obama’s financial and economic policy are explored, including institutional difficulties, party warfare, lobbyism, and systemic inconsistencies of international financial regulation. We also examine challenges that are being faced by economic and political sciences due to the changes in financial regulation and also assess the level of radicality of the financial reform.

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Basel III: In quest for criteria and scenarios of the banking regulation reform advancement

Voprosy Ekonomiki ◽

10.32609/0042-8736-2016-2-77-93 ◽

2016 ◽

pp. 77-93 ◽

Cited By ~ 1

Author(s):

E. Dzhagityan

Keyword(s):

Financial Regulation ◽

Cost Optimization ◽

Spillover Effect ◽

Regulatory Reform ◽

Banking Regulation ◽

Capital Adequacy ◽

Basel Iii ◽

Eurasian Economic Union ◽

Downward Pressure ◽

Crisis Recovery

The article looks into the spillover effect of the sweeping overhaul of financial regulation, also known as Basel III, for credit institutions. We found that new standards of capital adequacy will inevitably put downward pressure on ROE that in turn will further diminish post-crisis recovery of the banking industry. Under these circumstances, resilience of systemically important banks could be maintained through cost optimization, repricing, and return to homogeneity of their operating models, while application of macroprudential regulation by embedding it into new regulatory paradigm would minimize the effect of risk multiplication at micro level. Based on the research we develop recommendations for financial regulatory reform in Russia and for shaping integrated banking regulation in the Eurasian Economic Union (EAEU).

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