Fairness in financial services: the role of regulation
ANALYSIS: The problem is that consumers are in no position to understand whether they have been treated fairly.
Regulators are wrong to argue that disclosure solves the problem of consumer ignorance.
Last week I looked at the FMA’s fairness survey and respectfully concluded that many of its questions missed the boat in terms of focusing on the big issues that affect perceptions of fairness. I’ll start this final instalment by summarising the results of my earlier columns in this series.
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