On The Protection For Rights Of Financial Consumers

Financial consumer is a newborn concept, lacking of financial consumerprotection is an important cause of the economic crisis. Now, most of the financialcountries are developing and amending laws actively to increase the provisions offinancial consumer protection. Some of countries founded the special organizationsto protect the financial consumers’ interests. China currently has no systematicresearch on protecting of financial consumer, the protection work started late andthe law is not perfect.This paper through the study of the concept of financial consumers,introducing the foreign definition of financial consumer, proposes some advice aboutChina financial consumer’s definition. Aiming at the problems and lack of legalprovisions, propose amendments about amending Chinese consumer protection law.Mainly define the financial consumers’ right to know, to claim and increase theprivacy and the right to education provisions. Finally, stipulate the financialinstitution’s obligations about explanation, discoursing information and properinduce.