Study On Protection Of Financial Consumers' Rights In Personal Banking Business Of Commercial Banks

In recent years,China's economy has developed rapidly,society has been stable and harmonious,per capita disposable income has increased year by year,and individual residents' personal wealth has been continuously accumulating.More and more people are not satisfied with the low interest rates on bank deposits and have begun to pursue diversified financial management methods.The financial needs of financial consumers have prompted major commercial banks to continuously innovate the types of wealth management products and enrich the types of wealth management products.With the continuous innovation of financial products,there are more and more disputes about financial products.China's wealth management market has grown rapidly in recent years.However,China's commercial banks started their personal banking business later than the developed countries.The financial market is still immature and the relevant laws and regulations are not yet perfect.There are still some problems,such as: When commercial banks sell personal wealth management products,they have no effect on the risk assessment of financial consumers;commercial banks recommend financial products that are not suitable for financial consumers to financial consumers;the development of laws and regulations lags behind,and the legitimate rights and interests of commercial banks' personal financial management consumers are not available.Some protection and so on.In view of this,based on the analysis of the financial consumer protection rights of commercial banks' personal wealth management business,this article analyzes the problems,findsimperfect places,analyzes the causes,and contemplates some countermeasures,so that the financial consumer rights of commercial banks' personal wealth management services can be obtained better protection.In addition to the introduction and conclusion,the article is divided into the following four parts:The first part is to analyze the protection of the financial consumer rights in the personal financial management business of China's commercial banks.First of all,through data analysis,the development status of China's commercial banks' personal wealth management products in recent years,followed by the use of charts to govern the standardized documents issued by state agencies in recent years to regulate personal financial products of commercial banks,and to maintain the normative documents on the rights and interests of financial consumers.The regulatory agency for the financial consumer's rights and interests of the bank's personal wealth management products finally introduced several dispute resolution methods currently occurring between financial consumers and commercial banks.The second part is to introduce cases in which the financial consumer's rights in China's commercial banks' personal wealth management services are vulnerable to infringement.Takingthe commercial bank employees' "unwantedwealth management" product case,the financial product "overlord clause" case,and the commercial bank improper promotion case as examples,the situation of several kinds of infringements of financial consumer rights that are more prominent in reality is introduced,and a brief analysis will emerge.The third part analyzes the problems existing in the financial consumer rights protection system in China's commercial bank personal wealth management products from the aspects of legislation,internal operations of commercial banks,and dispute resolution mechanisms,and explores why these problems arise and are proposed for the next chapter.Corresponding improvements are well-grounded.The fourth part is on the basis of the first three chapters,combined with China's national conditions,put forward suggestions for improving the protection of financial consumers' rights in the area of personal financial services in China's commercialbanks.The first is the legislative improvement,from the establishment of financial consumer rights and interests protection principles,the formulation of the “Financial Consumer Rights Protection Law”,and the improvement of laws and regulations to improve the protection of financial consumer rights related laws.Secondly,it improved the internal management of commercial banks by improving the risk rating and risk warnings and emphasizing the personalization of information disclosure.Solve financial disputes for financial consumers and build a multi-level dispute resolution mechanism.Finally,strengthen the financial consumer education and improve the ability of financial consumers to cope with risks.Suggestions were made from the four aspects of legislation,commercial bank internal management,dispute resolution,and financial consumer education,in order to make a useful contribution to the development of financial consumer rights protection in the area of commercial bank personal financial services.