The Protection Of Rights Of Financial Consumers

Our current financial institutions including: the central bank, commercial bank(state-owned commercial Banks, joint stock commercial Banks), the policy Banks andnon-bank financial institutions (insurance companies, securities companies, creditcooperatives, investment companies). Financial consumers buy and use the goods andservices provided by the goods and services provided by some financial merchants orservices-providers for their personal or family use or investment.（This paper refers tothe natural person, legal person not including in them）The absence of financialconsumer right protection system is one of the important defections that were exposedin the financial crisis in2008. Currently, the consciousness of financial consumer rightprotection is becoming strong all over the world, and relevant legislation is also in theprocess of enhancement. China should draw lessons from experience of the UnitedStates, Britain, Australia and other developed countries, find a foothold in China’s basicconditions, and take the definition of financial consumer and their basic rights as thelogical point of departure. Also, we should clear mind and build an appropriate systemframework for financial consumer rights protection. According to the legislation ofour present financial consumer protection、weak protection ability of financial consumerprotection agency、 difficult judicial relief、poor service concept of financial institutionand lacking of knowledge about financial products, this article will put forward somesuggestions (legislative suggestions、financial regulatory suggestions、the judicial reliefadvice、suggestions for financial institutions、suggestions for financial consumers).Banking is very important in financial system. This paper focuses on the protection ofbanking consumers’ rights.