Study On China’s Commercial Bank Financial Contract Information Disclosure Obligation

Along with the national economy has been developing persistently, healthily and rapidly, residents’demand of hedging and appreciation of the financial assets value is increasingly vigorous, and the commercial bank personal financing business has been developing rapidly. With the rapid development of personal finance business, there are a lot of disputes of personal finance. The main cause of such disputes is commercial bank’s lack of financial information disclosure.But in our country, the existing related bank law just set regulations for banks in terms of the basic obligation of the financial product sales, lacking relevant regulations of bank financing contract disclosure. This also leads to the court decisions for such disputes tend to stress the customer’s behavior ability, while ignoring the disclosure obligation of the bank. It leads to the following questions:what is the theoretical basis of commercial bank financial product information disclosure? How to define commercial bank’s obligation of personal financial information disclosure? How should commercial bank bear the legal responsibility if violating the information disclosure obligations of financial contract? The author talks about commercial bank financial information disclosure obligations from the perspective of commercial bank financial contract, so as to protect the client’s right to know, maintain their rights and interests, and promote the development of the commercial bank financing business healthily.Based on the foregoing issues, this article will make several observat ions as follows:In the first part, the author introduces a case of financial disputes and analyzes the focal points of disputes so as to bring about the realistic sign ificance of this article. In the meantime, it summarizes some legal issues e merging in those cases and conducts some simple legal analysis.In the second part, it mainly focuses on the theoretical basis disclose d in commercial bank financial contracts. From the economics perspectiv e, the disclosure obligation of commercial banks is based on the informati on imbalance theory. From the perspective of contract laws, the disclosur e obligation of commercial banks is based on the principles of honesty an d credits and the requirements of format contracts. From the perspective o f the theory of consumer rights and interests, the disclosure obligation of commercial banks is based on the nature of consumer contract and the req uirement of consumers’rights to know.In the third part, it studies the definition of the obligation of commer cial banks. It clarifies the principles of the information disclosure of com mercial banks, mainly including:honesty, accuracy, timeliness and comp etence. It studies the information disclosure before the establishment of fi nancial contracts, during the implementation of the financial contracts. It also looks at the nature and implementation methods of regular and irregu lar information disclosure.In the fourth part, it analyzes the legal responsibilities of commercial banks violating the disclosure obligations of financial contracts. Accordi ng to the relations difference of the concerned civil laws, civil responsibil ities can be classified as contract responsibility and infringement responsi bility.