The Research On The Alternative Dispute Resolution Of Financial Consuming Dispute

The theoretical basis of the protection of consumer rights is the tilt protection.Compared with financial institutions, financial consumers play a weaker role in the market, while the need to be protected is obviously essential. Large numbers of financial consumers have suffered a great loss in the global financial crisis caused by the America subprime mortgage crisis. Under such circumstances, national governments began to review their own lack of both the financial system, supervision institution, and value the balance of the value of efficiency and security. Also have they realized that protecting the financial interests of consumers should be the meaning of supervision system. With respect to the original litigation dispute resolution mechanism, the mechanism of ADR has some advantages as follows: the value of a positive sum game, the high-efficiency of constant disputes, the low cost of conflict settlement, the limits of judicial power, and the reduce of litigation exhaustion. Based on the great attention of customer value, countries have issued relevant laws and policies and adjusted the protection mode and mechanism, which is set to protect the legitimate rights and interests of financial consumers through perfecting mechanism of the ADR financial consumer disputes. The United States has made adjustments to the original "double bull" consumer protection mechanism and set up the Consumer Financial Protection Bureau; the United Kingdom has made some adjustment to the FOS system which is set to protect the rights of the financial consumers; Japan has spent nine years to establish a perfect ADR system which is based on the original dispute resolution system. With regard to active protection practice of the United States, the United Kingdom, Japan and other countries, legal scholarship of our country have done some research and spoke highly of it, and have put forwards some constructive suggestions on the reform of ADR mechanism of our existing financial consumer disputes. A common problem in dispute resolution mechanism of our countries’ financial consumer is: too roughly provisions in the legislation and strongly color in the administrative management; singleness and effectiveness in setting part which is difficult to play its role in reality. In view of this situation, we can improve the financial consumer disputes ADR mechanism in some ways as follows: firstly, the concept of "financial consumer" should be given a clear definition in the legislative thought, and the administrative legislative thought shouldbe reformed; Secondly, in the system construction, a specialized and unified financial consumer disputes settlement center which is based on absorbing the advanced experience of other countries and in the premise of maintaining separate supervision system; finally, the ADR system in financial consumer disputes of China should be improved gradually in practice.