A few days ago, the People's Bank of China Taizhou Branch, the Hailing District People's Court and the Taizhou Society for Finance and Banking jointly held the founding ceremony of the Taizhou dispute resolution center for financial consumption & ceremony of appointment of mediators. It was a useful attempt of Taizhou to explore and set up the third party settlement mechanism of financial consumption disputes.
Following update of financial products and adjustment of various interest relationships, the contradictions and disputes in financial consumption field have been more complicated, and it has been harder to resolve them. Therefore, on the basis of using good domestic and overseas experience and advanced practice for reference, exploring and establishing the third party settlement mechanism of financial consumption disputes conforming to realities in Taizhou can more justly and effectively resolve financial consumption disputes. The center is a platform for communication and trust of both parties and a neutral institution for resolving financial consumption disputes openly, justly, fairly, legally, reasonably and legitimately which will open a legal protection umbrella for financial consumers. Moreover, the mediators employed by the center are all from related departments, universities, law offices and financing institutions, they are upright and familiar with finance and laws and will mediate heartily.