Legal Issues On Personal Credit Investigation In P2P Lending

Preamble mainly describes the P2 P lending in our inclusive finance innovation progress, which leads to credit investigation problems in P2 P lending. Nowadays P2 P lending is an important part of the Internet finance in China. However, considering that P2 P lending is still a new product to enter the domestic market, there are many risks including credit system problems..The first chapter describes the academic definition and related laws and regulations in which the P2 P lending and the credit investigation in P2 P lending. The P2 P lending agency, or officially called “Internet intermediary lending agencies”, is an organization which mainly acts as an information intermediary organizations, and it also provides loan information, thereby contributing to the borrower and the lender to borrowing. Credit investigation in P2 P lending can prevent information asymmetry and moral hazard,as well as lower the risk of default and reduce the risk of money laundering and other crimes.The second chapter states for related legal relationship of credit investigation in P2 P lending, which discusses the related subject and object of credit investigation, and for a commentary on the existing credit. P2 P lending’s object includes a credit-information-collecting of credit credit investigation, credit bureaus, credit information users and information providers. And according to the credit investigation industry management ordinance and other laws and regulations and contract relation between the main object, the major subject is all about the object of credit investigation or in case of relevant credit information. Credit information is classified as personal basic information, personal credit information and other relevant personal credit information. There is limitation for collection and use of credit information. About personal information protection of credit investigation, credit investigation in the protection of the social interests tend to be associated with individual credit information rights and there are conflicts between them. How to achieve an equilibrium should be noticed. Related rights of personal information are based on the analysis of the civil law theory, which can be divided into personality rights and property rights. For the personal credit information related rights protection, related law has not stipulated the specific right of personal information. The personal information protection in the P2 P lending is involved in related laws, and the law provides the relevant relief system.The third chapter focuses on P2 P lending credit investigation system. It is divided into three reference mode: the private-run mode, the public credit registry mode and hybrid mode, and the credit investigation of P2 P lending in our country is similar to the public credit registry mode, but also involving in the private-run mode. Current mode can be divided into network financial agency system, third party reference mode.In addition, the Internet in the financial mode of "big data credit investigation" and "cloud reference credit investigation" mode is a new type of credit system mode,which has a certain impact on our country’s credit legal system.The fourth chapter reviews existing regulation of P2 P lending, and especially in the P2 P lending credit for the protection of personal credit information specifically elaborated this aspect. Existing personal credit regulation mode can be divided into the US mode, the European Union mode and Japan mode. China’s current credit regulation mode close to the EU’s credit regulation mode. The People’s Bank of China and its dispatched institutions acts as credit investigation industry supervisory and administrative department under the state council, which has in accordance with the law of credit investigation industry supervision and management of power and also regulate foreign credit investigation agencies.The final chapter expounds the problem and resolution of P2 P lending credit systems. P2 P lending has high Internet financial technical risk. And there is a lack of related statues and regulations for credit investigation in P2 P lending. And there is also a lack of self-discipline in the trade association. To solve this problem,P2 P lending and personal credit investigation should be improved by enhancing related legislation and supervision in order to regulate better.In the end, the conclusion can be drawn that the P2 P lending in China and the relevant personal credit investigation needs further supervision and legislation. In P2 P lending, specific attention should be paid to protect related personal credit information from abuse. All in all, to improve relevant laws, regulations and regulatory system as well as to build a clear regulatory framework is the clear path for P2 P lending and Internet finance, and it is an important step towards credit state for China.