Consumer Rights And Responsibilities

Definition

Consumer Rights And Responsibilities. In the context of the Financial Competence Framework, Consumer Rights And Responsibilities is a topic in the Financial Landscape subject matter domain.

Competences

Mastering the role of Consumer Rights And Responsibilities in financial literacy context requires the following competences:

Code	Competency Description	Competency Type
431	Aware of one's rights and obligations when purchasing a financial product or service	Knowledge
432	Aware of one's consumer rights related to e-commerce and online transactions, such as full price disclosure and conditions for exchanges / returns / refunds	Knowledge
433	Aware of one's rights in the event of unauthorised or improperly executed payment	Knowledge
434	Knows and understands the rights and responsibilities of consumers who fail to pay specific bills, including taxes and utilities	Knowledge
435	Knows the legal right to contest a decision taken by an algorithm	Knowledge
436	Takes into account individual rights and responsibilities as a financial consumer	Skill
437	Reads the small print when choosing financial products	Skill
438	Informs financial service providers of changes in circumstance where relevant or contractually obliged to do so	Skill
439	Keeps statements and contracts, and records conversations and actions relating to potential maltreatment from financial service providers	Skill
440	Ensures that creditors are aware of all relevant factors that may impact repayments	Skill
441	Applies for help to pay or defer specific bills in times of need [where available]	Skill
442	Values the rights of financial consumers	Attitude
443	Motivated to research and exercise one's own rights as financial consumer	Attitude