Consumer

A consumer is a person or organization that uses economic services or commodities.

In economic systems consumers are utilities expressed in the decision to trade or not.

Economics and marketing

The consumer is the one who pays to consume goods and services produced. As such, consumers play a vital role in the economic system of a nation. Without consumer demand, producers would lack one of the key motivations to produce: to sell to consumers. The consumer also forms part of the chain of distribution.

Recently in marketing instead of marketers generating broad demographic profiles and Fisio-graphic profiles of market segments, marketers have started to engage in personalized marketing, permission marketing, and mass customization.

Law and politics

The law primarily uses the notion of the consumer in relation to consumer protection laws, and the definition of consumer is often restricted to living persons (i.e. not corporations or businesses) and excludes commercial users. A typical legal rationale for protecting the consumer is based on the notion of policing market failures and inefficiencies, such as inequalities of bargaining power between a consumer and a business. As of all potential voters are also consumers, consumer protection takes on a clear political significance.

Latest News for: Bank consumers

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Gulf Bank unveils its enhanced Gulf Points Program

GCC Business News 22 Dec 2024
The Gulf Bank has officially launched its enhanced Gulf Points Program, setting a new benchmark for loyalty rewards in Kuwait ... Consumer Banking. Gulf Bank. “The enhanced Gulf Points program is designed to transform everyday banking into extraordinary experiences ... Customers earn points on every transaction made using Gulf Bank credit cards....
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UK property asking prices decrease, headwinds remain for 2025

CyprusMail 22 Dec 2024
10 to Dec. 7 ... “A Bank Rate cut and some mortgage rate falls early on in the year would help to settle the market and provide a boost to sentiment and consumer confidence,” Bannister said. The Bank of England is expected to hold interest rates at 4.75 per cent on Thursday and has said future rate cuts were likely to be gradual ... .......
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New Delhi’s Dilemma: Pro-Modi Trump Policies Are Blatantly Anti-India

The Arabian Post 22 Dec 2024
The Reserve Bank of India’s interventions to stabilize the currency have had limited success ... An economic slowdown characterized by subdued industrial output, declining consumer demand, and weakened investment sentiment has eroded confidence in the Indian economy....
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Commentary: Government deregulation? What could go wrong?

Times Union 22 Dec 2024
Take food ... And finally, we come to banking and finance. Republicans who will soon control both the White House and Congress have plans to kneecap the Consumer Financial Protection Bureau, founded after the 2008 global financial crisis ... And big money corrupts absolutely. Karl Felsen is a retired state government and banking executive. ....
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US Fed sues JPMorgan, Wells Fargo, BofA over Zelle payment network fraud

Hindustan Times 21 Dec 2024
The CFPB claims that the banks violated federal consumer financial laws governing electric funds transfers, which require banks conduct “reasonable investigations” when consumers report transaction errors, and the agency's prohibition on unfair acts or practices by failing to take steps to prevent and address fraud on Zelle....
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US consumer protection watchdog sues bank giants for allowing frauds on Zelle

Jurist 21 Dec 2024
The US Consumer Financial Protection Bureau (CFPB) announced on Friday that it has filed a against JPMorgan Chase Bank, Bank of America, and Wells Fargo Bank for allowing fraud to occur on the Zelle platform ... The CFPB stated that the accused banks rushed to market Zelle without implementing proper consumer safeguards....
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B2B payments is the emerging battleground for Asian banks

The Manila Times 21 Dec 2024
FOR the longest time, owning the consumer payments space has been Asian banks' key focus ... The need for banks to lift their B2B payments game is being driven by three trends ... Finally, increasing consumer banking regulation is heating up (including consumer card interchange) in a way that isn't affecting the B2B space....
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Commentary: The Consumer Financial Protection Bureau has irked billionaires, but it serves the public well

The Spokesman-Review 21 Dec 2024
They don’t like government agencies that stop corporations like theirs from ripping off consumers. They especially hate the 14-year-old Consumer Financial Protection Bureau ... Elizabeth Warren, D-Mass., uses the bureau to take away the bank accounts – “debank” – of anyone who doesn’t agree with her, especially Silicon Valley entrepreneurs....
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Top court rejects 30% cap on credit card interest

Hindustan Times 21 Dec 2024
The Supreme Court on Friday reversed a 2008 ruling by the National Consumer Disputes Redressal Commission (NCDRC) that barred banks from charging more than 30% annual interest on overdue credit card payments, allowing banks to determine their own rates within existing regulations....
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Block deals worth over Rs 5,683 crore this week. Reliance Industries, HDFC Bank among stocks ...

The Economic Times 21 Dec 2024
Other key players included Godrej Consumer (Rs 171 crore), Kotak Mahindra ......

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