Bank Consumer Law Protection And Research

Banking sector is confidence in the industry, consumer confidence in the Banks have important role on the healthy development of banking industry, and this confidence built on the bank on the basis of the powerful guarantee of consumers’ legal rights. At the same time,the bank for their own development and to meet the needs of era, continuously introducing various banking products and services to the consumers, more and more closely contact with consumers. However, due to the specialization and complexity characteristics of banking business, the bank has a monopoly, the benchmark interest rate and deposit reserve rate prescribed by the central bank and the naturally has a strong economic power and status.Banks, on the other hand, consumers in the access to information, professional knowledge, a lot of deficiencies in such aspects as economic ability, causes the vulnerable, the legitimate rights and interests have been violated. Due to its strength is limited, many consumers seeking remedy not good in the legitimate rights and interests is damaged and select submit to humiliation, for a long time hence, will inevitably intensify the contradiction between the two,causing confusion in the financial market order, and hinder the healthy development of China’s banking industry and the social harmony and stability. After the outbreak of the global financial crisis, many countries in the world began to pay attention to resolve the conflict between Banks and consumers, protect Banks has become a global issue of common concern to consumers, is also the focus of the financial system of legislative and regulatory reform. But China’s current bank consumer protection in the legislative, regulatory and dispute resolution mechanism is not sound enough, theoretical research is not very thorough,therefore, strengthening the protection of bank consumer law is imminent.