The Construction Of Dispute Mediation Mechanism Of Financial Consumption In

This paper works on the research to build a dispute mediation mechanism of financial consumption in China by introducing the basic concepts related to financial mediation mechanism, comparing domestic and international experience in dispute mediation mechanism of financial consumption, summing up the development trend of dispute mediation mechanism of financial consumption and the status quo of China’s experience. Specifically described as follows:Introduction shows the background and value of this paper and the relevant literatures, in order to find the research direction and paper’s focus.Chapter one introduces the basic concepts of financial consumers, financial consumption dispute and financial mediation mechanism. For some reasons like information asymmetries between consumers and financial institutions, consumer rights can hardly be protected through lawsuits. Because of its characteristics like a high professional level and a small sum of money, financial consumption dispute can be resolved through mediation mechanism. Mediation mechanism can balance the position of consumers and financial institutions and provide a more flexible and more effective dispute resolution.Chapter two describes the dispute mediation mechanism of financial consumption in three different types including Financial Industry Regulatory Authority in the U.S., Financial Dispute Resolution Centre in Hong Kong and Financial Ombudsman Institution in Taiwan. The comparative study of these three dispute mediation mechanisms of financial consumption, this paper analyzes current development trend of dispute mediation mechanism of financial consumption, providing a reference for the subsequent construction of dispute mediation mechanism of financial consumption in China.Chapter three studies the status quo of dispute mediation mechanism of financial consumption in China as well as the problems and causes. China’s experience shows little about financial mediation by specialized agencies. The mediation mechanism in China is actually difficult to apply to financial consumption dispute. China’s experience shows the causes as lack of relevant laws and systems as well as consumers little knowledge on financial market and mediation mechanism.The final chapter proposes to build the dispute mediation mechanism of financial consumption in China. The proposal can be divided into three parts including the improvement of legislation, a system to build a mediation mechanism, and a program about consumer education, which will make the mediation mechanism play an important role in dispute resolution of financial consumption in China.