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A Study On The Legal Problems Of Financial Consumers' Rights And Interests Protection In China

Posted on:2015-05-27Degree:MasterType:Thesis
Country:ChinaCandidate:L LinFull Text:PDF
GTID:2176330431991531Subject:Civil and Commercial Law
Abstract/Summary:PDF Full Text Request
After the Financial crisis, the importance of protecting financial consumers’ rights have been recognized and advocated. Countries around the world hurried to pass remedial legislation to enforce the protection of consumers’rights. Meanwhile, under the influence of financial liberalization, governments of different countries encourage financial innovation, and narrow the scope of financial control, which actually makes an integrated management institution a mainstream in finance around the world. In China, with the growing fierce competition of financial market and the innovation of financial products, financial agencies interact with each other and blur the boundaries of each agency. The development of internet finance, represented by internet payment and P2P internet lending, also advances the integrated management of finance. Under such a background, due to the advantageous position of financial institutions and the information asymmetry, the legitimate profits of financial consumers are frequently breached because of their lack of expertise. How to protect the financial consumers against the financial market risks has become an urgent issue to be solved by our country in the post-crisis era.This thesis is divided into four chapters as follows:The first chapter introduces the concept of consumer financial protection. The author summarizes the achievements in theoretical research at home and abroad, and proposes that the financial consumption should be categorized into the area of living consumption, and the appropriate protection to financial consumers should be emphasized. In addition, the author clearly defines the concept and attributes of the financial consumer, and elaborates on the general principles of consumer financial protection. Why financial consumers should be under special protection is also specified in this chapter.The second chapter reviews the researches on consumer financial protection abroad. The author systematically compares the latest legislations on consumer financial protection in several developed countries and areas in post-crisis era. Based on status quo in China, this chapter further discusses how China should discard the possible harms while learn from their efforts.The third chapter comments on the current situation of consumer financial protection and the existing problems. With several typical cases in which consumer financial profits are undermined, the author proposes to tackle the problem in legislative, regulative and compensative measures.The fourth chapter proposes to advance the legislative model of consumer financial protection. The reform should be done step by step:currently, the target is to complete the regulative policies and legislations of consumer financial protection, but in the long run, efforts must be made to legislate specific law and make sure law can be enforced by setting up specific bureau. The ultimate aim is always to protect the consumer’s financial rights and profits.
Keywords/Search Tags:Financial consumer, Rights to know, Right of privacy, Financialdisputes, Protection of interests
PDF Full Text Request
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