•  Thus harmonization of the banking sector in the South Asian countries should be driven by these two considerations i.e. to eliminate the distortions in the market structure and to strengthen the regulatory framework prevailing in each country.
These laws protect consumers in transactions involving credit and debit card accounts; automated teller machine transactions and other electronic fund transfers; deposit account activities; automobile leases; mortgages and home equity loans; and lines of credit and other unsecured credit. Congress has assigned the Federal Reserve a considerable role in ensuring that consumers are protected under these laws.