Topic
mis-selling
Finance Phone Contract Comparisons of Student Loans Amounted to Mis-selling, UK MPs Say
The UK Treasury Committee has concluded that government comparisons of student loan repayments to phone contracts amounted to mis-selling. The committee criticized the freeze on the repayment threshold and called for reform.
Finance RBI Issues Stricter Norms to Curb Mis-Selling by Lenders: Consumer Protection Framework Finalized
The Reserve Bank of India has finalized its consumer protection framework under responsible business conduct guidelines, tightening rules on mis-selling, deceptive digital practices, and unauthorised bundling. The framework mandates explicit consent capture, interface defaults to 'No', and bans dark patterns, with effect from January 1, 2027.
Finance RBI tightens mis-selling rules; banks barred from incentive structures that encourage aggressive sales
The Reserve Bank of India on Monday tightened norms governing the advertising, marketing and sale of financial products and services to curb mis-selling. Banks and NBFCs are barred from incentive structures that encourage aggressive sales. The revised directions, effective January 1, 2027, adopt a principle-based, channel-agnostic approach and cover digital intermediaries including social media influencers.