Research On Our Legal System Of Electronic Banking Information Disclosure

Since the China Merchants Bank launched the first Internet banking in our country on September 1999, Electronic Banking (e-banking) business have rapid development in China. Development and popularization of Electronic Banking, bring a huge market and income to the bank, but also give consumers a more convenient, fast and diverse services. However, in e-commerce environment, the bank’s ability to collect and access to information is much larger than the consumer, and for consumer, The form of virtual transaction and the bank’s unique risk compared to conventional banks (such as system security risk, operational risk, etc.), make consumer in a more vulnerable position in Electronic Banking transaction, so consumer need more preferential treatment of legal protection. To protect the legitimate interests of the e-banking consumer, first of all, we must ensure the realization of the consumer’s right to know, as it is the basis for realization of other rights of consumer.Information disclosure system is an effective system for protection of consumer’s right to know, it can ensure consumer master enough information to make informed decisions. The introduction of information disclosure system into the e-banking and enacting well-developed information disclosure system of e-banking and detailing guidelines on disclosure of e-banking according to its features is an essential and urgent task for our development of e-banking.At the present stage, there are no special provisions for e-banking information disclosure, and the existing regulations in the information disclosure of commercial bank can not be fully applicable for e-banking information disclosure. Meanwhile the academic concern little with e-banking information disclosure, and relevant research results are few. So, the author hopes to research the problem with consumer protection orientation. The contents of this paper are as follows: Chapter One analyzes the general theory of information disclosure of e-banking. First, define the concept of e-banking after comprising related concepts; introduce the development of e-banking in China and the features of e-banking. Then sum up the conception of information disclosure of e-banking and analyze information disclosure of e-banking on theoretical foundation. At last, discuss the challenges which e-banking brings to the current system combining the characteristics of e-banking.Chapter Two discusses the current situation of e-banking information disclosure in our country. Firstly, carding and analyzing the related provision that concerning the e-banking information disclosure of our country, while explaining the current practice situation of e-banking information disclosure based on the data of 10 sample commercial banks. And next, indicating the problem in both our current legal system and practice of the e-banking information disclosure.Chapter Three analyze international information disclosure legal system of e-banking. By introducing relevant legal provisions concerning the e-banking information disclosure of some international organizations (Including Basel Committee on Banking Supervision、European Union and Organization for Economic Cooperation and Development)、The United States(mainly introduce< Electronic Fund Transfer Act>) and The Singapore(mainly introduce< Internet Banking And Technology Risk Management Guideline Monetary Authority of Singapore Version 3.0>), try to get a few inspirations for perfecting our e-banking information disclosure legal system.Chapter Four will put forward some policy suggestion for the problems of e-banking information disclosure mentioned above. Section one propose defining consumer protection orientation and three principles (mandatory disclosure principle、strict quality standards for disclosure of information principle and limited disclosure principle) for e-banking information disclosure legal system, while recommend perfecting our relevant legal provisions concerning the e-banking information disclosure according to the characteristics of e-banking. Section two to six, make a few suggestions for the problems of e-banking information disclosure practice:first, detailing relevant content and process as clear the four situations that bank can disclosure information of consumer; second, establishing Communication and cooperation mechanism of e-banking supervision; third, perfecting responsibility mechanism by devising reasonable civil responsibility and personal responsibility of e-banking information disclosure; last, creating a sound external environment for the legal system of e-banking information disclosure.