Study On Protection Of Financial Consumers’ Rights And Interests In The Field Of Banking

Consumers are the important parts of the market economy. Their behaviorshave great impact on the healthy, stable and sustainable development. In a sense,consumers will decide the prosperity of social economy. At present, the socialeconomy is growing rapidly. The financial behavior of consumers cannot beignored. Therefore, it has vital significance to our social economic developmentthat we must protect the consumers’ legitimate rights. Especially atfer fullyopened on Chinese banking industry in December2006，the protection of therights and interests of consumers in this field is particularly important. Bankinghas an obvious advantage in national economy because of its special character.Especially bank financial products and services have made the financialconsumers more vulnerable than the common consumers, at the same time, also itshows the financial status of inequality between consumers and banks. ChineseConsumers Association was build in december1984, and Consumer ProtectionLaw was formulated. But because of the complexity and particularity of the bankfinancial products and services, single and simple compensation legislation isdifficult to protact the consumers well. It has greatly influenced the healthy andorderly development of financial market. Banks are not only opposite but alsounit to the financial consumers. So when we are building the financial consumerprotection system, we should pay attention to this group, and to avoid excessiveprotection and negative influence on the development of the bank. We should usethe system to balance the financial consumers and banks in the economicadvantages and disadvantages.This article will take financial consumer protection as the core, guided bythe basic principles of economic law, from the general consumers as a startingpoint, to complete the concept for financial consumers. It will also clarify thebasic rights of consumers in the field of banking，and will analyse market mainbody by using the behavioral ifnance theories. Meanwhile, to build and perfectthe protection of financial consumer rights and interests in our country bycomparing the United States, Britain and Japan on the practice of financial consumer protection.