The Financial Ombudsman Institution (FOI) convened its board of directors meeting on September 6th, 2023. During the meeting, Dr. I-Ching Tu was successfully elected as the new Chairperson and assumed office immediately.

Dr. I-Ching Tu, the newly appointed Chairperson, holds a Doctor of Laws degree from Japan's National University of Hitotsubashi. She has previously served as the Dean of the College of Law and as a department head at National Taipei University(NTPU). She has also been a member of the Appeals Committee of the Financial Supervisory Commission (FSC). Currently, she is a professor at the College of Law at NTPU. Additionally, she holds positions as a committee member in the Dispute Resolution Committee of the Securities Investors and Futures Traders Protection Center (SIPC), director at the Taiwan Trust Association, and a member of the Prosecutor Evaluation Committee under the Ministry of Justice.

Chairperson Tu, in addition to her long-standing role as a professor teaching courses related to consumer protection law, banking law, and financial regulations, has actively participated in research projects related to the regulation of financial product sales practices. She has consistently shown a commitment to addressing issues concerning consumer protection in the financial sector.

In recent years, given the societal trends of an aging population and declining birth rates, she has initiated research into asset management and financial planning for vulnerable groups such as the elderly, as well as issues related to financial exploitation. Furthermore, with the rapid development of financial technology, Chairperson Tu has been focusing on how consumer protection laws should adapt to these changes.

Chairperson Tu has expressed her commitment to enhancing the fairness, transparency, and efficiency of the ombudsman process. She also emphasizes the importance of aligning with sustainable development goals, eliminating all forms of inequality, promoting fair treatment of customers, and strengthening financial inclusivity. To achieve these goals, she will continue to work with financial institutions and various consumer groups, emphasizing financial education and awareness as a means to prevent financial disputes from arising in the first place.

Chairperson Tu has also expressed that the FOI will actively cooperate with the FSC's regulatory policies to support the healthy development of Taiwan's financial market. In the post-pandemic era, the FOI will take a more active role in international activities, showcasing Taiwan's achievements in financial consumer protection on the global stage. Additionally, the FOI aims to establish diverse international partnerships through official and non-official cooperation to promote a vision of sustainable development. This approach will enhance Taiwan's capacity in financial consumer protection, align its legal framework with international standards, and serve as a blueprint for the FOI's sustainable development in the future.

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