Research On The Protection Of Financial Consumer's Rights And Interests

The protection of financial consumer's rights and interests is becoming the hot spot.With the rapid development of Chinese economy,many people have more and more money to spend on financial products and financial service rather than bank savings.Because of the outbreak of the financial crisis,many financial institutions want to avoid their losses by financial consumers who will afford the losses.Even if there is no financial crisis,the financial consumer's rights and interests will also be attacked by financial institutions.If there is only one person who's right and interest is attacked by financial institutions,there is nothing happening to the country.However,if there is a lot of people who's rights and interests are attacked by financial institutions,it will be bad or destructive effects on the country's development in the future.Scholars mainly take each financial industry as the research object rather than comprehensive research.Nowadays,scholars aim to apply an abstract behavior rule to all financial fields in order to prevent systemic financial risks and achieve the goal of financial stability by comprehensive research.We should change the way of thinking and find the way of protecting the financial consumer's rights and interests by regulating financial industries' behavior from the entire financial industry.There are three major parts in the thesis.The first part is the fundamental research including distinction of concept.Researching on the difference and relation between financial consumers and consumers,we will find connotation and extension of financial consumers who will be protected by laws.We should analyse theoretical basis and necessity of financial consumer protection,which is the reason of why we should protect financial consumers.Using analytical tools from behavioral finance,law and psychology,we will find that the primary reason is the limitations of financial consumers and financial stability.The second part is the research of current situation and problems.It will be illustrated the situation and the reason of financial consumers who's rights and interests are affected from three aspects including legislation,supervision and right protection.Because of absence of law,low legal validity,contradiction of supervision function and absence of right remedy,the financial consumer's rights and interests will not be protected well.In the last part,we will do the research on the solutions to problems including construction of legal system,distribution of regulatory body'sfunctions and distribution of burden of persuasion.The protection of the rights and interests of financial consumers is not only beneficial to the financial consumers themselves,but also plays a stable role in the development of financial markets.