소비자신용 관련 법제의 개선방안 -통합 소비자신용법의 제정을 중심으로-

In Korea consumer credit has been regulated by several separate laws rather than by an integrated consumer credit legislation. But most jurisdictions, including the U S, the EU, England and Germany, adopted integrated legislations concerning consumer credit. Japan, like Korea, has several separate laws on consumer credit. However, it also adopted the Consumer Contract Act, which integrated a part of consumer credit regulation. Recent increase in household debt and credit card transactions, plus the financial crisis, have caused so much problem in the protection of consumers. Thus the adoption of an integrated consumer credit legislation cannot be postponed any more. In designing the legislation we could consult the Consumer Credit Directive of the EU which integrates various kinds of consumer credit. The legislation should include: consumer credit cost disclosure, the restriction on interest rates, rights of withdrawal, debt collection practices and the protection of consumer credit information. Korea Fair Trade Commission, which has a jurisdiction on the Installment Contract Act, should take on the main responsibility to apply the integrated consumer credit law.