What You Must NEVER Do: Standard-Form Banking Contracts! скачать в хорошем качестве

What You Must NEVER Do: Standard-Form Banking Contracts!

This video examines the duty of Banks in CBN’s Consumer Protection Regulations (2016, and 2019) to satisfactorily explain the contents of Standard Form Contracts (especially regarding terminologies, features, costs, risks, penalties, terms, conditions and suitability of any product or service they offer prospective and existing customers); the corresponding duty customers have to demand for explanation and the special consideration given to CBN's vulnerable group. The video also takes a cursory look “act smart” tendencies of customers when dealing with Banks; and the consequence of ending up with less-value or unknown-terms in negotiations with banks. 00:00 Introduction 01:41 Standard-Form Contracts 03:24 Duty of Banks regarding contracts offered to customers 04:42 Consumer protection regulations in Nigeria 06:34 Penalties for failure to discharge duty placed 07:33 Self-awareness not to get carried away in negotiations Relevant Links for further reading: CBN, “Consumer Protection Regulation”; Release Circular No. CPD/DIR/GEN/CIR/01/002 (December, 2019) CBN, “Consumer Protection Framework”; Release Circular No. CPD/DIR/GEN/CPF/03/004 (November, 2016) Both available at https://www.cbn.gov.ng/ (last visited in November, 2021)