Regulators Encourage Diversified Resolution of Consumer Disputes and Legally Crack Down on Illegal Claims Representation Practices

WealthCoffee · 2026-03-20T14:35:22+00:00

Regulatory authorities propose to revise the Consumer Complaint Handling Regulations for banking and insurance institutions, adding a section on diversified dispute resolution, encouraging parties to settle and mediate independently, and emphasizing that consumers should rationally express their complaints to promote lawful resolution of disputes.

WealthCoffee

2026-03-20 14:35:22

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[Caixin] To further standardize the handling of consumer complaints by banking and insurance institutions, regulatory authorities plan to revise previous regulations, adding a chapter on diversified resolution methods, encouraging both parties to resolve disputes through self-resolution and mediation, while emphasizing that financial consumers should objectively and rationally reflect their demands through legitimate channels.

On the evening of March 20, 2026, the China Banking and Insurance Regulatory Commission released the “Measures for the Administration of Financial Consumer Complaint Handling by Banking and Insurance Institutions (Draft for Comments),” stating that in the event of a consumer dispute, financial consumers are encouraged to first report to the banking and insurance institutions, and both parties are encouraged to negotiate and resolve the dispute through legal and equal consultation; when entering into a contract with a banking or insurance institution, the parties may agree to prioritize mediation to resolve disputes; during the complaint handling process, consumers can be guided to resolve disputes through mediation.

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