Responsible Lending Changing Regulatory Environment and Industry Practices to 2013ā€“2017 Market Trends, Size, Forecast

Synopsis

The report outlines the changing regulatory environment to practice fair and responsible lending in the retail banking industry:
It provides a global snapshot of the lending dynamics across regions in the lending market.
It provides insights into the key factors driving the stringent implementation of responsible lending and consumer protection regulations across various regions.
It provides analytical insights into global lending markets analyzing their attractiveness and risks involved.

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It provides case examples highlighting the successful implementation of responsible lending practices in key markets.

Executive summary

Governments and regulatory bodies across the world have enforced numerous measures to curb irresponsible lending practices by banks and other credit institutions. These bodies have also taken initiatives to create consumer awareness about prudent borrowing to avoid excess debt. Excessive fees and interest rates on loans, lack of disclosure of productsā€™ terms and conditions, and deceptive debt-collection practices by banks and credit institutions contributed significantly to the financial crisis in the US and other developed economies in 2008ā€“2009. The phenomenon of responsible lending has assumed increased urgency since the global financial crisis, and has become a priority for governments and other regulators in many countries which are increasingly concerned about the consequences of irresponsible practices in the financial sector, particularly in banking.

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The US was the country most affected by the financial crisis, and was at the forefront of enforcing responsible lending practices in the banking industry to restore...