Research On Legal Protection Of Internet Financial Consumer Rights

With the rapid development of Internet technology,Internet finance has been born.Because of its own advantages such as disintermediation,the Internet has saved transaction costs,brought great convenience to people’ s lives,and promoted the overall development of the economy.Due to the combination of high risks in the financial field and the virtuality of the Internet,enjoying the convenience brought by Internet finance also incidents caused by this,the“mutual treasure”refusal incident,and multiple P2P Incidents such as platform running and JD.com’s stealing user privacy strengthen the protection of Internet finance consumers’rights and interests,which is of great significance for preventing and mitigating Internet financial risks,enhancing financial consumer trust,and enhancing financial security and stability.It is necessary to carry out in-depth systematic research on the core of Internet financial consumer rights.This article first clarifies the concept of Internet financial consumers,clarifies the hierarchical relationship between Internet financial consumers and traditional financial consumers,and consumers,excluding professional investment institutions and natural persons with financial resources.Provide theoretical foundation for the protection of Internet financial consumer rights.Secondly,it introduces the cases of consumer rights damage in different fields of Internet finance and the degree of damage to rights and interests,and then clarifies the problems and causes of damage to rights and interests from three perspectives of legislation,supervision and dispute resolution.The level of legislation is low,and the existing legislation on direct protection of financial consumers is lacking.There are more administrative supervisions and judicial application of financial consumer rights protection regulations in legislation,and there are fewer direct protection regulations for financial consumers in vulnerable positions.The plain interpretation of the purpose of consumption in Article 2 of the Law on Protection of Rights and Interests cannot cover the scope of financial consumption.At the regulatory level,separate supervision and cross-management have resulted in unclear regulatory responsibilities under the mixed-operation Internet finance format,and the main purpose of the supervision is prudential supervision without the formation of a dedicated financial consumer protection agency.In terms of dispute resolution,in terms of substantive law,complaint relief channels are not smooth.In terms of litigation,the features of electronic internet finance and off-site transactions have made it more difficult for consumers to prove their rights in safeguarding their rights,the burden of proof is unreasonable,and the cost of safeguarding their rights is high.With regard to online arbitration dispute resolution,existing arbitration-related regulations do not provide relevant basis for the implementation and enforcement of online arbitration.The claims of Internet financial consumers cannot be realized.Under the provisions of the current law,for the legal protection of Internet financial consumer rights,this article recommends the following improvements:improve Internet financial consumer protection legislation,add financial consumer protection legislation in the Consumer Rights Protection Law,and establish differences Trading rules.Supervision establishes a financial consumer protection-centric regulatory concept,drawing on the financial supervision model of developed countries,and merging the respective financial consumer protection organizations within the two committees into an independent financial consumer protection bureau.Establish a smooth channel for complaint and dispute resolution,and build a precautionary mechanism to improve the connection between online arbitration and enforcement systems to ensure the implementation of a diversified dispute resolution mechanism.isputes are put forward.