| Abstract: | Abstract: As in many other areas of public policy in the Netherlands, development of consumer protection in banking and financial services has been characterized by a consensual approach. Consumer organizations have been involved along with representative business bodies in building self-regulatory systems within a statutory framework, especially in relation to issues related to overindebtedness. This approach has characterized dispute settlement procedures as well as a code of conduct on good lending practice and a national credit registration system. The Consumer Credit Act provides a system of maximum interest rates for different kinds of credit, which may be varied according to market conditions. The needs of consumers at the lower end of the credit market are specifically catered for by a network of municipal credit banks, which also provide debt settlement services. |
