Research On The Protection Of Consumers’ Rights And Interests In Internet Financial

With the continuous development of computer technology,amid the background of “Internet plus”,traditional finance industry is undergoing tremendous reforms,hence the rise of Internet finance at the historic moment.As a new inclusive finance model,through efficient and convenient finance services are provided,in the meanwhile,Internet finance has also bred numerous cases of Internet finance consumer infringement due to the imperfection of relevant laws and supporting regulatory policies,which seriously put the legitimate rights and interests of Internet finance consumers at risk.Based on the study of domestic and foreign scholars in Internet finance fields,combined with the current Chinese laws and regulations in related fields,as well as some cases of Internet finance infringement,this paper analyzes the problems exiting in the protection of consumer rights in terms of Internet finance and the causes in detail,and puts forward some countermeasures and proposals to protect the legitimate rights and interests of Internet finance consumers.The problems impeding the protection of consumers’ rights and interests in Internet finance mainly focus on the following aspects: firstly,the information of operators is not sufficiently disclosed.For large percentage of Internet finance consumers,the essence of finance products,or the specific business and operating performance of Internet finance companies is not well understood.Secondly,Internet finance are mainly traded through Internet finance platform,which is more convenient and flexible,but also leads to other troubles to Internet finance consumers,such as personal information and privacy leakage,property security risk and so on.Finally,for the Internet finance consumers who have been infringed,there are some undeniable practical difficulties in the process of safeguarding their rights.The causes of the difficulty in current Internet finance consumer protection are analyzed to be classified into the following categories.Firstly,lack of legislation on the protection of Internet finance consumer rights,that is,there is no law specifically formulated to regulate the Internet finance market and to protect the rights and interests of finance consumers.Secondly,Internet finance is under speedy development,but there is also an absence in the corresponding supervision and protection system,which fails to guarantee the legitimate rights and interests of consumers from infringement.Finally,the lack of finance knowledge and awareness of rights protection for consumers,and the single settlement mechanism of Internet finance disputes also leads to high cost and low efficiency of rights protection of Internet finance consumers.As regards of the problems existing in the protection of consumers’ rights and interests in Internet finance,the following countermeasures and suggestions are put forward.First,the legal system for the protection of consumers’ rights and interests in Internet finance should be improved,and the “Internet finance law” and relevant laws and regulations for the protection of consumers’ rights and interests should be formulated.Second,effectively promote the innovation of Internet finance regulatory system,including setting up the Internet finance market access and exit mechanism,promoting the establishment of Internet finance consumer collaborative protection regulatory system,strengthening the regulatory rules of operator information disclosure,building Internet finance insurance system,promoting the construction of Internet finance industry self-discipline system,and so on.Third,a "diversified" Internet finance dispute resolution mechanism should be established,which includes the improving of non-litigation dispute resolution mechanism,the building of Internet finance consumer class action system,and an“ integrated ” comprehensive information supervision and rights protection platform.Finally,strengthen the popularization of Internet finance knowledge,improve consumers’ awareness of rights protection,and improve consumers’ ability to identify and prevent risks.