Regulatory Alerts2013-10-28
Added · Updated
Treat Customers Fairly Charter
The Hong Kong Monetary Authority issued the Treat Customers Fairly Charter to foster a stronger corporate culture of fair treatment for retail consumers across all banking levels. All Hong Kong retail banks have signed the Charter, committing to implement its five principles which complement existing laws and regulations. The Authority also urges banks to adopt flexible approaches regarding low-balance and dormant account fees, noting that several institutions have already waived these charges for vulnerable groups.
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