Effectively improve consumers' financial literacy (financial outlook)
Ge Mengchao
To improve the financial literacy of consumers, it is necessary to strengthen the risk prevention awareness of key groups, to consolidate the main responsibilities of financial institutions, and to unblock the channels of financial consumption rights protection
Since the beginning of this year, the China Banking and Insurance Regulatory Commission has successively issued 6 issues of financial consumption risk warnings.
Combing these tips, we can find that many new risks in financial consumption are often related to consumers' unfamiliarity with new changes in the financial market.
For example, in cases such as the use of housing and pension fraud, illegal financial live marketing, and the establishment of fake financial websites and fake apps, the reason why "Li Gui" can fish in troubled waters is often due to consumers' inconsistency in new financial products, new models, and new formats. Familiar shortcomings-at the moment, financial products are increasingly subdivided and financial technology is developing rapidly. Financial products and services can be delivered to consumers through multiple channels and embedded in daily life scenes, even allowing people to be "consumed" inadvertently" To be served".
Financial products are inherently complex, and information about supply and demand is asymmetric. Many people either don't understand or know a little about all kinds of new things. It is inevitable that the authenticity is irrelevant, allowing those who violate laws and regulations to take advantage of the loopholes.
Therefore, to improve the level of protection of financial consumers' rights and interests, on the one hand, we must continue to improve the management system and improve the effectiveness of supervision, so that "the magic is one foot high, and the road is high"; at the same time, financial consumer education must also be vigorously carried out. Improve the financial literacy of consumers, help everyone improve their ability to discern, see the "trap" in the "pie", and stop being deceived.
First of all, we must increase the risk prevention awareness of key groups.
The central bank's survey results show that the distribution of consumer financial literacy in my country is in an "inverted U shape". The financial literacy of the elderly and young people is relatively low, and they are more likely to suffer from illegal financial activities.
In a warning case issued by the Shanghai Banking and Insurance Regulatory Bureau in October this year, a nanny used the excuse to help the elderly pass the facial recognition verification by taking pictures, and operated the elderly’s mobile phone to obtain the verification code, and pledged the elderly’s insurance policy as a mortgage loan. "Into the "end", financial products are "packaged" and "chained", making many elderly people unable to guard against risks.
At the same time, in recent years, reports of some teenagers falling into the trap of illegal borrowing have appeared in the media from time to time, which makes people sigh.
In the future, we should continue to strengthen consumer education for key groups such as the elderly and young people.
For young people, we must focus on the popularization of financial knowledge such as rational borrowing and rational consumption; for the elderly, we must emphasize rational investment, improve their self-protection ability, and help them bridge the "digital divide."
Second, it is necessary to consolidate the main responsibility of financial institutions.
In September last year, the "Implementation Measures for the Protection of the Rights and Interests of Financial Consumers of the People's Bank of China" was officially released.
The Measures clearly stipulate that banks and payment institutions should earnestly assume the main responsibility for the protection of the legal rights and interests of financial consumers.
Consumer education is an important part of helping consumers protect their rights.
Financial institutions have the responsibility to effectively deliver financial knowledge popularization and financial risk warning information to consumers in a variety of ways.
For example, assess the suitability of financial products to consumers, and accurately disclose the annualized interest rate of loan products.
Financial institutions need to know that it is of great significance to do this well-not only to implement the one-way "pay" required by the management department, but also to strengthen the "firewall" for better prevention of financial risks, and to further understand the new consumer financial needs, Explore new areas of business.
In addition, it is equally important to protect the rights and interests of financial consumers, unblocking channels for post-mortem rights protection and strengthening pre-risk education, and the two can promote each other.
For example, financial management departments and institutions can adjust and highlight relevant risk education content based on the characteristics of new and frequent cases presented by complaint statistical data; consumers can consciously retain key links of information and audio in conjunction with risk reminders during the consumption process. Video provides evidence for possible rights protection incidents.
Working together on these two ends can promote the management departments to improve the regulatory system, promote the standardized process of financial institutions, and further improve the level of protection of the rights and interests of financial consumers.
Doing a good job in financial consumer education is a practical way to safeguard the interests of the people, an important foundation for the sustained and healthy development of the financial industry, and a key measure to prevent and defuse financial risks and maintain financial stability.
We look forward to more "financial classrooms" entering the community campus and Tianyeshan Township.