What Does a Consumer Protection Agency Do?

Financial Consumer Protection Bureau, an independent department set up by the China Banking Regulatory Commission, which is set up as a bureau-level unit.

Financial Consumer Protection Agency

Right!

Financial Consumer Protection Bureau, an independent department set up by the China Banking Regulatory Commission, which is set up as a bureau-level unit.

Chinese name

Financial Consumer Protection Agency

Agency

Consumer Protection Agency

Nature

Department-level unit

Classification

economic

The Financial Consumer Protection Bureau is set up as a bureau-level unit, with one director, one deputy, two directors, and a staff of fifteen. Branches around the country have approved the establishment. The director of the Financial Consumer Protection Bureau is Liu Yuan, the former director of the Case Inspection Bureau of the CBRC. The deputy director is Yang Yuanyuan, the former director of the Business Innovation Department of the CBRC.

The first is to strengthen risk-based supervision. Put liquidity risk, information technology risk, country risk, reputation risk, etc. into a more important position, and also pay attention to the cooperation between financial institutions and informal financial institutions to establish a firewall.

The second is to improve capital-based supervision. Taking the opportunity to implement the "Capital Management Measures for Commercial Banks (Trial)", it is urged to urge commercial banks to strengthen capital management.

The third is to continuously improve the regulatory toolbox. Continuously enrich regulatory indicators, strengthen analysis and monitoring, and improve consolidated supervision.

The fourth is to further strengthen the protection of financial consumers, carry out public financial education, and form a long-term mechanism for financial consumer protection.

The fifth is to accelerate the construction of information systems, which is based on the needs of new trends in the development of international financial supervision.