FOMCA, Malaysia: consumer complaints against financial institutions up 30% in one year

The National Consumer Complaints Centre, operated by FOMCA, received 1,354 such complaints from Malaysian consumers in 2008, compared to 1,004 in 2007. In many cases excessive overdraft charges and other penalties from banks were forcing consumers into ever-spiralling levels of debt: http://tinyurl.com/ybwc7t2

Banking goes bananas

Choice, Australia have produced a great parody of a controversial video released by Westpac Bank, which used the rising price of banana smoothies after a tropical storm as an analogy to explain why they put up their interest rates.



Search YouTube for the original Westpac video

Spanish bank charges depositors in Peru by the banknote

In November 2009, ASPEC Peru denounced Spanish bank BBVA for imposing fees on cash deposits of more than 30 banknotes without informing their clients: http://www.aspec.org.pe/content/view/1016/8/

Consumer Council of Fiji: insurance law must be reformed

'Third Party Laws Must Change!' claims the Consumer Council, which says that weaknesses in current legislation are being exploited by insurance companies to the detriment of accident victims. Find out more: http://tinyurl.com/yatd8vq

British government must bank opportunity to help poorest consumers

Consumer Focus are calling on the authorities to introduce a bank account product tailored to the millions of consumers in the UK who do not have access to even the most basic banking services. See below for more:

http://www.consumerfocus.org.uk/news/government-must-bank-opportunity-to-help-poorest-consumers

Welcome!

Hello, and welcome to CI's WCRD 2010 blog.

We will be posting interesting updates and news about the work of CI member organisations on financial services.

The idea is to faclitate the sharing of useful and relevant information between CI members across the world around the WCRD 2010 theme of 'Our money, our rights'.

Please do also remember to contact CI at campaigns@consint.org and tell us what you are planning for 15 March.

Happy reading!

CI