독립 금융소비자보호기구 설립 타당성에 관한 정책 연구

Financial market has higher risk of market failure compared to the commodity market on account of it's fundamental characteristics of asymmetric information. Since the 2008 financial disaster resulting from the subprime mortgage crisis in the U.S., there had been increasing criticism on the existing financial supervising structure in that (1)financial consumer protection had been treated as lesser goal to the safety and soundness of the financial institutions and (2)the existing system had failed to offer sufficient solution to solve the embedded information asymmetry problem of financial products. In order to prevent the potential loss to financial consumers in the future, the U.S passed "The Restoring American Financial Stability Act" in 2010, which includes the introduction of the independent CFPB(Consumer Financial Protection Bureau). The introduction of independent government agency that is equivalent to the U.S.'s CFPB has been very controversial issue among concerned parties including the Congress as well as the financial supervising government bodies in Korean financial market ever since. The reason why this issue has been so much controversial is that all the concerned parties have different opinions according to their own interests. Thus a thorough, academic analysis on this issue based on neutrality seems meaningful work to do. This analysis deals with several issues such as what are the relevant academic points to consider for the best practice of financial consumer protection and what would be the policy implications resulting from the academic analysis.