HKMA Issues Cooling-Off Period Requirements For Unsecured Consumer Credit Products

Authors :: Or, Sara
Source :: Mondaq Business Briefing. November 14, 2024
Publication Year :: 2024
Abstract: The Hong Kong Monetary Authority (HKMA) has further enhanced consumer protection by issuing a circular prescribing a 7-day cooling-off period for customers to reconsider credit products. Retail banks (including digital [...]

Subjects :: Hong Kong. Monetary Authority -- Powers and duties
Consumer protection -- Laws, regulations and rules
Banking industry -- Services -- Laws, regulations and rules
Consumer credit -- Laws, regulations and rules
Government regulation
Banking industry
Business, international

Tools