Study On Financial Consumer Protection

Protecting financial consumers is a basic requirement of financial market andfinancial law system’s developing. But our legal system have deficiencies oflegislation idea, legislative principle, legislation model, legislative content andregulatory relief mechanism on protecting financial consumers. It’s the originalintention that this thesis focuses on topics of discuss solution channel of problems andput forward of how to improve criminal legislation. Now the protection of financialconsumers is somehow weak in China. Since China’s accession to the World TradeOrganization in2001, our country’s economic market is developing rapidly under theimpact of the world economy. Although the Consumer Financial Protection Bureauhas set up in2012, we can found the urgency of constructing laws to protect financialconsumers. We should be flexible, efficient, comprehensive and accurate in protectingfinancial consumers. So, we need to make the laws improved further on protectingfinancial consumers.Firstly, this thesis carries out a detailed exposition on three aspects of conception,particularity and the meaning to protect financial consumers. The thesis takes someperspectives of domestic scholars and definitions of financial consumers fromrepresentative countries outside as reference. Also it contrasts the distinctiveness offinancial consumers to average consumers. And it premises the meanings ofprotecting financial consumers from these two parts.Secondly, it’s analyzing the fundamental rights that financial consumers shouldenjoyed, and discuss the four rights which with special representatives of financialconsumers’ rights: right to know, right to privacy, the right of fair trade, and right ofclaim. So, we should pinpoint financial consumers’ rights in building the law, and thelaw can protect financial consumers roundly.Thirdly, this thesis analyzes the legislation model, legislative achievement,supervision mechanism, and relief mechanism of America, England, Japan, andCanada. It also reference outstanding contributions of protecting the financialconsumers in those countries outside. And the paper offers the generate content for our legislation that contact with our current legal system and market mechanisms ondissecting those countries outside.Finally, this thesis gives advices and opinions to protecting the financialconsumers from juridical status, the duty of financial institutions and regulatory reliefmechanism. It makes a reference diagram of financial consumers’ relief agency thatbased on our national conditions and extraterritorial reference. We put forward boldsuppositions and concrete measures.In conclusion, this thesis thinks that strong national economy is the basis ofcountry’s developing steadily. The legal regulation protection system is the basis offlourishing of national economic. A country how to use laws to protecting economicand the attention to financial consumers are conditions to decide a country’s progressor not. On the whole worlds, there still have big expand space on legal protectionsystems of China’s economic. Although China has done a good job on GDP, it’salways in a backward position on legal system of financial management of the worldranking. Outside representative countries have pay attention to protecting financialconsumers since the seventies of last century. But we propose to found the ConsumerFinancial Protection Bureau in2012. This phenomenon set us thinking. Onlycompleting the legislation idea, legislative content and supervision mechanism, thatclod we let our economic becoming prosperous and stable. Based on this concept, thethesis put forward of the concept of protecting financial consumers.