To the question on the protection of the rights of consumers of financial servicesin Ukraine: in the context of recent legislative ammendments

Abstract

The technological innovation and increased competition for financial services worldwide have created a wide array of financial services available to consumers. As a result, government authorities worldwide are starting to look at concrete and effective ways of improving consumer protection in financial services and financial literacy - and take a proactive approach to reform of their retail financial markets. «Good Practices for Consumer Protection and Financial Literacy in Europe and Central Asia: A Diagnostic Tool» (hereinafter – Diagnostic Tool) which provides by the International Bank for Reconstruction and Development and The World Bank, recommends to use best practices for creation a good system of protecting the rights of consumers of financial services. Through the text of this Diagnostic Tool we can find the practical advices for creation purposesof system of protecting the rights of consumers of financial services. Some of them will be discussed below.