For instance, the banks have due disclosure obligations in relation to the terms of credit. For the most part, they are cautious in the provision of credit beyond customers’ needs and repayment abilities, and there are fixed and regulated dispute settlement mechanisms.
The Banking Supervision Department also enforces consumer directives, and serves as the decider of disputes in many cases where customers have claims of improper activity on the part of the banks. Just this week, we published the activity report of the Banking Supervision Department’s Public Enquiries Unit.