Consumer Protect In Personal Financial Services Of Commercial Banks

With the develop of personal financial service of commercial banks in China, growing economical demands of high profit make those banks created personal financial products of different ranks, which are classified to financial consultant services, assignee services,personal derivative services, foreign exchange trading services and comprehensive financial managing services by jural relations of underlying contracts. What makes citizens become a consumer is a contract agreement between personal financial consumers and commercial banks. And these financial managing contracts are classified by the risk burden of consumers to risk-taking contract and risk-shift contract, in which rights and duties contribute differently, and in the meanwhile, before or during or after concluding the agreement ,commercial banks may fraud, inappropriately sale, improper exploit clients' information that will violate consumers' legal rights. Therefore, inclining protect financial consumers by legislative equitable principle is necessary. Firstly, define commercial banks' personal financial service products' legal relation as fiduciary relation to construct the legislate basic and contribute the risk and duty burden. Secondly, tell the usual risk and particular risk of personal financial contracts to aimly propound reasonable suggestions of protect financial managing consumers. And make new detailed regulations to raise commercial banks'explanation duties, expand the scope of information disclosure, while learn the experience of crosswise supervision and control in Japan and FOS system in Britain to change the supervision model of domestic personal financial service market. China banking regulatory commission is also advised to construct new internal structure which can separately resolve personal financial service disputes before resorted to court. Finally, construct conservation foundation and improve the system of civil liability to assure consumers' material safety.