The Research On The Financial Consumer Rights Protection In P2P Lending

With the appearance of internet financial, social division of labor and specialization of financial industry are gradually weakened. Internet financial shows the characteristics of service efficient, convenient, low cost and popularization of participants. For a long time, financing difficulty which small and medium-sized enterprises and the social vulnerable groups encounter is a common problem faced by the world. P2 P lending mode can gather idle funds together and provide loans to people in need. This model greatly meets the capital need of many people, promotes the development of small and medium-sized enterprises, stimulates the prosperity of the economy development, and also increases the efficiency of social idle funds. Since the world's first P2 P lending platform was established in 2005, the model of P2 P lending which entered the Chinese market in 2007 has been expanded in the world.In the last few years, in support of national policy, the number of P2 P platform increased quickly.While P2P lending platforms provide consumers with convenient financial services, the lack of financial consumer rights protection is also gradually revealed. P2 P lending mode has the features of wide range of service groups, involved in the field of capital and prone to disputes, which lead to the difficulties of consumer rights protection. The problems that exist in our country are the dissimilation of P2 P lending, the lack of industry laws and regulations, the government regulation and industry self-discipline long-term falsified and the imperfect social credit system which have made financial consumer rights who invest in P2 P lending at great risk. The above problems require China as soon as possible to build an effective rights protection mechanisms for financial consumers in the P2 P lending platform, bring the platforms into the financial regulation and strengthen self-discipline function of the industry association in order to ensure the healthy and orderly development of industry.This paper is divided into five parts. The first part mainly introduced the overviews of P2 P lending and financial consumers. P2 P lending's profile mainly involves three aspects, which are the meaning of P2 P lending, the development of P2 P lending and operation modes in our country. First of all, this paper from the connotation and extension of financial consumers clarified the concept of P2 P lending. Then, it illustrated the particularity of financial consumers in P2 P lending in order to explain the reasons that financial consumers in P2 P lending who face the different risks with consumers in traditional mode need special rights protection system. Finally, article instructed the core rights of financial consumers and the forms in P2 P lending. The second part,from three aspects of the financial consumers, P2 P lending industry and the whole society analysed the necessity of the protection of the financial consumers in P2 P lending.The third part analysed the current situation of financial consumer rights protection in China from four aspects of legal system, regulation, industry self-discipline and dispute resolution mechanism, highlighted the urgency of corresponding reform of the system that protects the financial consumer rights and also laid a foundation for the following idea which put forward with the combination of foreign experience. In the fourth part, the article used the method of historical comparative to analyse the financial consumers' protection experience of United Kingdom and the United States in the field of P2 P lending, and found the important enlightenment which is advantageous to improve the protection mechanism in China. The fifth part put forward the idea of financial consumer rights protection and improvement suggestions of P2 P lending in our country according to the above analysis.