The Research On Legal Protection Of Financial Consumers’ Right To Know

In recent years, financial consumption becomes a part of daily consumption. Unlike the traditional consumption, financial consumption demonstrates more complexity and diversity. With the rapid development of financial industry, the forms of financial consumption continually develop into the integration of deposit, the payment and the money management, and the innovations are emerging in the endless stream. Financial consumers don’t have enough knowledge in information acquisition, finance and perception of risk. Financial institutions always take good advantage of their own strength trading unfairly. The related legislation in our country can not fully protect the financial consumers, such as the lack of financial consumers’ concept, dispersive regulation, etc. In some developed countries, like America, the UK and Japan, they have more completed protective systems including detailed disclosure obligations and the remedy. This article bases on the right to know of financial consumers in other countries compared with our country and tries to propose a series of suggestions.Besides the introduction and the conclusion, this particle divided into four sections:The first section: This part will have a overview of financial consumers’ right to know. The definition of financial consumers’ concept is the core problem of consumer protection. On the basic theory of financial consumers, we can have a depth discussions on financial consumers’ right to know’s concept, nature and border.The second section: This part will have an analysis of the legal texts and practices, which found problems of financial consumers’ right to know in Chinese legal protection.The third section: This part will introduce foreign countries on legal analysis of financial consumer protection, which is an opportunity for learning from the advanced system of foreign financial consumer protection and reflecting on today’s financial protection. It will also discuss how to coordinate financial consumer’s right to know and trade secret rights when they are in a conflict.The forth section: This part is the focus of this article. Based on the above conclusions and combined with China’s actual situation, this part will proposes how to improve the legal protection of financial consumer’s right to know in three ways: the legal system, the regulatory system and the remedy.