The Study On Protection Of Financial Consumers’ Right To Know

After joining the WTO, China’s financial services market keeps open continuously.As people living standard unceasing enhancement, the original financial products offinancial institutions have already can’t satisfy people’s growing consumer demand. Asa result, some financial products which design more novel and complex has emerged,and gradually entered the common people family. But as more and more consumersstart trying to buy new financial products, and financial consumers’ right to know inreal life are also being violated by the financial institutions frequently, which showsthat China’s existing legislation to protect the financial consumers’ right to know is notenough. In the system of rights of financial consumer, the financial consumers’ right toknow in a basic position is the foundation of other rights realization. If ignore the legalprotection of financial consumers’ right to know, that will make financial consumerconfidence in the financial institutions reduced and even the entire financialconsumption environment is also greatly reduced. But the legal norms and regulationsto protect the financial consumers’ right to know exist some shortcomings, such as: thelegal level is low, rules are scattered, etc. Therefore, after draw lessons from legislationpractice for protection of financial consumers’ right to know of three developedcountries, and to do the in-depth study on the current situation and main problems ofprotection the financial consumers’ right to know in China, the author hope to putforward the suggestions of legal protection about financial consumers’ right to knowwhich are in accordance with national conditions and fully meet the reasonabledemand of financial consumer.In this paper, besides introduction and conclusion, the author mainly from the fiveparts to do in-depth analysis and research on the legal protection of financialconsumers’ right to know of our country. The first part, In order to defining thefinancial consumers and financial consumers’ right to know, with the basis ofconsumers, the author answered what is the financial consumers and financial consumers’ right to know, analyzed and summarized the characteristic of financialconsumers and financial consumers’ right to know. The second part, the author mainlyexplores legislation practice of protection of financial consumers’ right to know of theUnited States, Britain and Japan, and after draw lessons from foreign advancedlegislation experience, the author hope to provide the reference for the legislation offinancial consumer right protection in our country. The third part, the author mainlydiscusses the legal norms of financial consumers’ right to know of the currentconsumer protection law and the financial legislation. The fourth part, the authoranalyzes the shortcomings of legal protection on financial consumers’ right to know intoday’s China. The fifth part, in view of the shortage of the protection of financialconsumers’ right to know in our country, the author from four aspects to put forwardthe suggestions of perfecting our country’s protection of financial consumers’ right toknow.