Hong Kong Banks Pledge to Treat Customers Fairly

Public pressure over vulnerable populations spurs banks to act -

On 28 October 2013, 22 retail banks in Hong Kong launched the Treat Customers Fairly Charter (Charter) to enhance customer protection and education in the financial realm and in turn to boost customers’ confidence and trust in the banking industry in Hong Kong.

The Charter is primarily aimed at retail customers and is designed to complement, not change, current laws or regulations or the existing terms and conditions between the banks and their customers. Charter signatory banks pledge to support and implement five high-level Treat Customers Fairly principles (TCF Principles).

Please see full update below for more information

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Topics:  Banking Sector, Banks, Disclosure Requirements, Hong Kong, Retail Market

Published In: General Business Updates, Consumer Protection Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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