독립된 금융소비자보호기구 설립에 관한 소고

Abstract

In the U.S. the Consumer Financial Protection Bureau (CFPB) was established in 2010, which aimed to strengthen protection of financial consumers. The UK has published its plan to create the Financial Authority Conduct as an independent financial consumer protection agency in February 2011. Likewise, enacting the Financial Consumer Protection Act and creating an independent agency of financial consumer protection are under way in Korea for better protection of them. Implied from the creation of CFPB and debates on it in the States,followings should be guaranteed for its end to be accomplished. First, the agency should be free from improper influence by other prudential regulators,politics, and financial institutions. Second, it should be substantially authorized to suggest and implement customer protection policies and to supervise financial institutions in addition to its power to respond to customers' complaints or to adjust financial disputes, so that it can practically contribute to enhancing financial consumer protection. According to what the Financial Services Commission has announced, however, the Financial Customer Protection Services would be established within the system of the Financial Supervisory Services without any authority to supervise or impose sanctions on financial institutions, while it is responsible for financial literacy programs and empowered to perform researches on financial customer protection. Moreover, its budgetary allocation should be approved by the Financial Services Commission in consultation with the Financial Supervisory Services. Hence, there is a doubt that the foundation of the Financial Customer Protection Services will fulfill its goal. It is called for that details of the Financial Customer Protection Services should be discussed more prudently in the Assembly.