Research On Consumer Financial Privacy Protection

The endowment and protection of financial consumers’ rights and interests is essentially a slanted protection for the weaker among equal subjects.This protection reflects the debate of efficiency and fairness in terms of legal value.However,if the rights and interests of financial consumers are protected in the form of legal norms,it should be In line with the possibility and necessity of institutional supply.On the issue of consumer financial privacy,the determinable abstract range of financial consumers and financial information and the legal attributes of information security provide the possibility for this protection,while the necessity is determined by the weak position of financial consumers in financial services.determined by the information dominance of financial institutions.On this basis,China’s current financial privacy protection system is manifested in the division of labor between multiple information security protection laws and financial regulations at different levels,with different emphasis.First,the regulations at different levels have not yet been harmonized—the lower-level financial regulations provide financial information protection from the reality of the industry,which is relatively separate from the higher-level information protection laws;the higher-level laws do not clarify the legal nature of financial consumer information security,such Absence makes the lower system more conservative on this issue,and it is difficult to produce system effectiveness.Secondly,financial privacy contains commercial value,which aggravates the possibility of improper behavior and predatory exploitation by financial institutions when collecting and using financial information,and also poses two problems for system supply: on the one hand,in order to realize information security protection,the scope of financial privacy should be delineated.The number of types of financial privacy is positively related to the degree of informatization in the financial market.It is unrealistic to exhaust the types of financial information in specific regulations,which is in contradiction with the certainty of the law.On the other hand,financial service contracts are established based on equality,but protect financial consumption.The privacy rights and interests of consumers will strengthen the obligations of financial institutions,and the two values themselves are in conflict.Finally,even if each system determines that the corresponding subject enjoys information interests,it is still difficult for financial consumers to independently achieve relief when financial privacy is violated.Civil laws and financial regulations have regulated this issue,but pay little attention to inter-subjects Differences in reality and selectivity of relief paths.From the perspective of extraterritorial financial systems,the United States,the European Union and Japan have all introduced various regulations on the protection of financial privacy in their own countries.The choice of legal attributes provides experience,and has a certain reference value for strengthening the system supply and further realizing the purpose of my country’s existing comsumer financial privacy protection system.At the same time,in response to the above dilemma,new requirements should be put forward in four aspects: the application of the concept of financial consumers’ privacy rights and interests in my country’s current system,the delineation of the scope of the financial privacy system,the obligations of financial institutions,and the relief of financial consumers’ rights and interests.