The Research On Legal Issues Of Bank Comsumer Protection In China

China banking industry opened in2006comprehensively. Now, the bank service hasdeep into every social filed, and become important foundation of people daily life andeven the entire society. The development of financial innovation and updating of banks’financial products and services results in the prosperity of banking industry. At the sametime, variety of violations of the bank customers’ rights and interests are presented. In thewake of the financial crisis, bank customers’ rights and interests protection became asignificant subject of financial legislation and regulatory reform all over the world. Incontrast, the protection of the customers’ rights and interests, banking self-disciplinemechanism, and relative dispute resolution mechanism are missing in China legislationsystem. Once bank customers’ rights are violated by bank, there is no effective rightsrelief system. The protection of bank customers’ rights and interests plays a decisive roleto the health development and maintaining of the banking industry. Therefore, building abank customers’ rights and interests protection system in China is imperative.This article includes introduction, body and conclusion. Introduction mainly showsthe paper’s research background and purpose, research methods and ideas. The body willargue the theme around protection of bank clients’ rights and interests. The conclusionpart will summarizes the main idea of this article. The article is divided into fourchapters. Chapter1analyzes the basic questions in bank consumer protection. The analysis isconducted by four steps. First of all, define the concept of bank consumer and state thesubjects of this article. Secondly, explain the legal relationship between banks andconsumers. Thirdly, analyze the potential conflicts of the banks legal relationship with thecustomers, which paves the way for further analysis. Lastly, analyze the legitimate rightsof the consumer in the transaction with the bank.Chapter2make a systematic analysis on the protection system of bank customers’rights and interests. First of all, illustrate two typical cases about bank transaction. Andthen, demonstrate the necessity of giving special protection to the bank consumers inlight of the legislative system, financial system, inequality of the body position, and thereseason of customers themselves.Chapter3makes a comparative study on the bank consumer protection, byanalyzing the experience of consumer protection from UK, and the US in their latestlegislation and regulatory reform. During the analysis, the author lays the emphasis onconduct of business and the consumer financial dispute settlement system of UK. TheAmerican financial privacy protection system and the latest consumer financial protectionagency, and other systems are analyzed, which can be the reference for the constructionof the institution in chapter4.Chapter4focuses on how to build up Chinese bank consumer protection system.The article proposes that the bank consumer protection system can be improved fromlegislation and supervision. In terms of regulatory, it argues that the duty of regulatorshould be clarified and strengthened to protect the consumer, and a special departmentshould be set up in the regulatory organization. Finally, in consideration of the hugesignificance of convenient depute resolution, this paper devotes to build up themechanism of dispute resolution between banks and consumers in China.