| With the continuous development of Internet technology, a variety of commercialactivities go further from line to line transferring. The launch of the "balance oftreasure" business in Alibaba use pay treasure, banks followed by introduction ofcomplicated names "baby" business. The rapid development of network financing,investment and network online selling financial products such as Internet financialbusiness, network finance has become a new form of financial service affecting people’slife. Payment and higher network financial convenience yields, become concerned aboutthe financial consumption hot spots, but the network financial consumer rights beinginfringed, but China’s current legal provisions and institutional settings are still unableto protect the network financial effectively the interests of vulnerable consumer groups.Due to the nature of Network financial products, the inevitable problems prompted inthe early development of the risk is not sufficient, it is unable to verify the rights ofmany links, difficult burdens of proof, causing that the victim is often difficult to timelyfind the infringe, resulting in the high cost of protecting rights. Because of the thirdparty payment process information, vitalization allows both parties to the seriousinformation asymmetry of transaction, the legitimate rights and interests of consumersmore vulnerable to abuse.As consumers in the network of financial freedom of choice, the right of financialprivacy, financial informed right, financial compensation claims and other special rightsare not effectively protected. The fast development of network finance in developedcountries, their financial consumer protections on the network is relativelywell-developed; we need to learn from their experience to construct our network offinancial consumer rights and interests protection law system. America mainly used "theFair Credit Reporting Act" and "financial services modern law to protect consumerprivacy, security in terms of internet finance.”Electronic signature law" also has a clearallocation of specific provisions on the network financial transactions. EU countries, especially the UK has been walking in the forefront of the network finance, financialconsumer protection system of the network is relatively perfect, such as the2000British"financial services and Markets Act" in order to ensure the fair and accurate regulation,there are amendments-around its terms or details of the implementation annually. Basedon the defects of our network financial consumer protection status, combined with theadvanced experience of foreign countries, we should perfect from legislation,administrative supervision and dispute resolution etc, to make a specialized network offinancial consumer protection law and supporting facilities, the law should be specific,with detailed practical problems such as the introduction of amendment rules. Toimprove the network financial supervision level to protect the interests of consumers, toclear regulatory body, strengthen self-discipline, to strengthen a network of financialinstitutions of information disclosure and risk disclosure obligations, to develop themarket injection system, are our final goals, Apart from Establishing an effectivedispute resolution mechanism, clearing responsibility of the main bodies, establishing anew type of dispute of Online Dispute Resolution mechanism, clearing the jurisdictionof the court and so on.Network finance as the emerging financial forms, strengthen the protection of therights and interests of consumers not only by conforming to the harmonious society ofour country, but also from the economics perspective. the network financing systemperfect consumers’ rights and interests protection, the faith and the widespread use ofnetwork financial products and services, is to support and promote the important factorsof personal continuing consumption, is the realization of expanding domestic demand inChina, an important guarantee to realize the rapid and healthy economic developmenttarget. |
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