Lately I have heard a lot of Icelanders say that the consumers should have the benefit of the doubt when making contracts with financial institutions.
They are talking about the currency basket loans.
I agree with them.
But I have also heard a lot of Icelanders, and in some cases the same people who maintain the above, that Dutch and British consumers should only blame themselves for acting as irresponsible rate tarts when saving with Icelandic internet accounts such as IceSave.
This is confusing to me.
Hopefully we can agree that consumers should benefit from doubts because they are not financial experts, even if they are foreign.
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Tweets that mention The Benefit of The Doubt -- Topsy.com
1 year ago
[...] This post was mentioned on Twitter by Daði Rafnsson. Daði Rafnsson said: Benefit of the doubt, even for foreigners http://www.economicdisasterarea.com/index.php/features/the-benefit-of-the-doubt/ [...]
Boggi
1 year ago
Exellent point Dadi
Lino
1 year ago
actually it makes “perfect sense” if you “understand” their mindset…
:)
Though, I’m not sure what you mean with “beneft of the doubt” but I think it’s the same replacing foreigner with financial institutions…
not very honest mindset, no no…
Dadi
1 year ago
“benefit of doubt” meaning that when a contract is either illegal or unfair, the financial institution has a major responsibility as the expert … i.e. the customer is in a weaker position and should have more protection by the law…