Researching On The Law System Of Individual Credit Checking

As a capital and exploitable resource, individual credit can magnificently increase purchasing power of medium-low people by means of launching customer load business so that expand consumption demand and motivate socioeconomic development. In the period of economic transformation, the previous credit maintaining system that bolster personalized transaction has gradually disintegrated due to expansion of markets, status decline of personalized bargaining and sharp variation of ideology. However, the new social credit system that able to support a sound contractual transaction, high efficient legal system and applicable market economic condition has far from been established. Old system is broken, new one beyond found in this period, transforming vacuum thus appear in credit system. As being a more severe economic and social issue, distrust has recently become one of most rigorous problems in front of economy as well as whole society. Therefore, the standardization of individual credit checking activities is not only beneficial to broaden the scale of customer credit, promote the development of financial industry, and also to china's economy sustainable and healthy development and heighten the whole social moral level and found harmonious society.The treatise is divided into four chapters:Chapter 1: Survey Of Individual Credit Checking Law System. The writer primarily expatiates on the definitions of individual checking and individual credit that is generally called as consumption credit due to relation with individual consumption in economy sector. Individual credit, as usual, has three genera as follows: sale credit; load credit; and financial dealing credit. Individual credit checking refers to an operating business activities in which credit checking agencies collect the information(credit record) by which individual discharge will are reflected from different creditor institution, judiciary institution and administration institution, etc. and integrate into one or more databases in order to process and employ these data. The activity contains collection, utilization, supply and management of individual credit information. Secondly, the author elucidates the property of individual credit checking legal system that belongs to the category of civil and commercial law research and study. Thirdly, give a detailed statement that the juristic relationship of individual credit checking legal system includes the following: juristic relation in credit checking basic deal; juristic relation in entrust credit checking; legal relation of credit checking and relation in surveillance of credit checking. Fourthly, clarify the necessity of standardizing individual credit checking activities from macroscopic and microscopic aspects.Chapter 2: Comparative Research On Individual Credit Checking Law System. The writer, comparatively studied with the legislative status in market-dominant operation mode, government-dominant operation mode and public-private mixing operation mode, has arrived at that legislation in various operation modes provide a referential significance to our nation. It mainly includes two aspects, one is that individual credit checking industry don not developed without the establishment and perfection of legal system of individual credit checking. The legal system of collection and employ of individual credit data are crucial portion in individual credit law system; the other is that individual privacy and credit right should be protected during the credit checking activities conducted by credit checking institution. Meanwhile, she anatomizes the legislative status quo and existing problem on individual credit checking system in China. Therefore, two facets systems are put forward that China should perfect its individual credit checking system, i.e. collection and employ system of individual credit data and civil liability of infringing privacy and credit right.Chapter 3: legal rules and regulations of individual credit data. In this chapter, the author respectively illustrates the rules and regulations on individual credit data collection and employ. Credit data is the foundation of credit checking law system, which rules and regulates its activities. Individual credit data process the following characters: (i) access to testify individual credit or relate to individual credit; (ii) individual credit data processes a definite property; (iii) individual credit data also has personality trait. She points out that China's individual credit data should contain several respects thereinafter through comparison legislation of various nations and analysis of China's legislative state: (i) individual identification data; (ii) individual credit transaction data; (iii) social public record; (iv) other agreeable information related to credit. The using method of individual credit data includes following aspects: (i) individual credit report, a subject record that reflect credit history and social credit standing, is consulted by credit alienator ( trustor) to make a decision whether provide a credit service; (ii) Credit Rating, a kind of method to calculation and quantitative analysis of individual information through computer technology on basis of mathematic mode; (iii) individual credit data marketing. As individual credit data process high value in analysis and use, it can provide service for commercial bank in preventing risk and acquiring value through value-added exploitation. As refer to individual privacy, the using scope of individual credit information is explicitly restricted by every nation. American and European Union, for example, have strictly regulated the using scope of individual credit information. China, therefore, has stipulated as well in Interim Measure for the Administration of Basic Data of Individual Credit Information. Meanwhile there is some place need to perfect gradually along with the development of credit checking business.Chapter 4: research on civil liability in individual credit checking activities. The writer expounds the civil liability in infringement of privacy and in credit right, respectively. Modern individual credit checking is developed on basis of releasing individual privacy. The customer's impairment of personality, property and spiritual caused by credit checking institution inevitably bring civil liability. These civil liabilities formation of infringing privacy include: offence, illegal activities, facts of damage and causation. It is indicated in treatise that segregating privacy from other rights has become a great urgency in order to complete China's individual credit checking law system. Owing to the personality and property of credit right, the civil liability formation of infringing credit right include: (i) activities of violating credit right; (ii) damage fact; (iii) subject negligence; (iv) causation. Civil liability undertake of violating credit right contain: (i) damage compensation for material interest; (ii) spiritual damage compensation; (iii) punitive damages compensation. The excessive punitive compensation would bring much burden on credit enterprise, which not benefit the development of individual credit checking in China. Therefore, the application of punitive compensation should be restricted in case of credit checking institution infract individual credit right .