But it is something that we believe has been effective in giving reprieve to consumers and also bringing complaints to banks so they could make appropriate changes in their own processes. Part of consumer protection is also giving them information.
It also differs from neoliberalism, which rests on the superiority of free and competitive markets and thus makes every effort to avoid public interventions. 19 It is distinctively Schumpeterian, in that it has the aim of raising the growth potential or liveliness of the economy. For this very reason, one could say that it is unconventional in the domain of monetary policy design.