Book contents
- The Cambridge Handbook of Twin Peaks Financial Regulation
- The Cambridge Handbook of Twin Peaks Financial Regulation
- Copyright page
- Contents
- Figures
- Tables
- Contributors
- Foreword
- Acknowledgements
- 1 Introduction
- Part I Surveying the Terrain
- Part II The Trek towards Twin Peaks
- Part III Different Topographies
- Part IV Seismic Activity and Fault Lines
- 18 Twin Peaks and Boiling Frogs
- 19 Twin Peaks
- 20 Twin Peaks, Macroprudential Regulation and Systemic Financial Stability
18 - Twin Peaks and Boiling Frogs
Consumer Protection in One or Two Ponds?
from Part IV - Seismic Activity and Fault Lines
Published online by Cambridge University Press: 24 June 2021
- The Cambridge Handbook of Twin Peaks Financial Regulation
- The Cambridge Handbook of Twin Peaks Financial Regulation
- Copyright page
- Contents
- Figures
- Tables
- Contributors
- Foreword
- Acknowledgements
- 1 Introduction
- Part I Surveying the Terrain
- Part II The Trek towards Twin Peaks
- Part III Different Topographies
- Part IV Seismic Activity and Fault Lines
- 18 Twin Peaks and Boiling Frogs
- 19 Twin Peaks
- 20 Twin Peaks, Macroprudential Regulation and Systemic Financial Stability
Summary
Financial consumer protection requires both Twin Peaks regulators as it requires a safe and stable financial system and fair conduct towards consumers. Consumer protection contributes to the objectives of both regulators. This chapter argues that while the mandates of the prudential and conduct regulator are distinct, and each has different regulatory approaches, there is a growing convergence between the two in areas such as the conversation on culture, and complementary approaches in matters of concern such as home lending. Cooperation between each regulator is essential to protect financial citizens. Although significant steps have been taken to protect consumers, there is still consumer detriment. The extent of this will not be fully known until the next crisis.
- Type
- Chapter
- Information
- The Cambridge Handbook of Twin Peaks Financial Regulation , pp. 305 - 323Publisher: Cambridge University PressPrint publication year: 2021