Code: 4.3.1 · Children and youth
Code: 4.3.1 · Children and youth
Aware that consumers have rights and responsibilities
Understands that there can be negative consequences for consumers who do not meet their responsibilities (e.g. failure to repay a loan can lead to fees, higher costs of credit and restricted access to credit in the future, etc.)
Can give examples of basic rights of a consumer (e.g. related to price disclosure, returns, withdrawal, complaint, redress, etc.)
Can give examples of basic responsibilities of a consumer (e.g. repaying debt, providing relevant information to financial service providers, etc.)
Can exercise basic rights as a consumer of financial products and services
Confident to file a complaint and seek redress from relevant entities (financial provider, relevant public authorities, or alternative dispute resolution bodies, etc.) in case of any problems with financial service providers
Motivated to look for information on consumer complaints, supervisory warnings, or enforcement actions taken against a particular financial service provider