Title: The US CFPA Act of 2009 and Its Revelation to China's Financial Supervision Legal System
Abstract: In order to cope with the financial crisis,protect the interests of consumers,strengthen the supervision of financial institutions,and prevent financial systemic risk,the Obama government has been brewing an overall reform on the U.S.financial supervision system,the core of which is to establish the Consumer Financial Protection Agency(CFPA).As to China's financial supervision legal system,there are too many defects in its financial supervision laws,i.e.,the poor protection of financial consumer rights and no healthy financial legal system to deal with the systematic risks,and the US CFPA Act of 2009 is a fine reference for the improvement of China's financial supervision legal system such as the protection of financial consumer rights and the supervision of financial products and services with systemic risks.
Publication Year: 2010
Publication Date: 2010-01-01
Language: en
Type: article
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