Banks, Consumers and Regulation

 

The financial services industry makes an enormous contribution to the global economy, and banks are at the centre of this. Banks are regulated in a number of ways, and for a number of reasons, and one of the most important of these reasons is to protect the consumer.

Banks, Consumers and Regulation looks at why and how the law is used to regulate banks in the interests of the consumer. It examines the objectives of banking regulation – as well as consumer protection regulators may have regard to objectives such as fighting financial crime, ensuring market confidence and promoting competition, and asks why law is necessary to achieve those objectives. The module considers how these objectives relate to one another, and what, precisely, they mean. It also looks at whether regulators should focus on ensuring the better functioning of financial markets, or whether they should be concerned with social outcomes, such as ensuring access to banking services.

As well as examining what banking regulation should try and achieve, the module also investigates the different types of law that might be used, from licensing and supervision to self-regulation and provides a fascinating insight into the control of one of the global economy’s most important businesses.