CONSUMER CREDITING: CORELATION OF PRIVATE AND PUBLIC BASIS OF LEGAL REGULATION

Abstract

In this article, the authors consider the modern legislation system on consumer crediting. The authors dwell on the problems of the correlation of certain legal acts in this sphere and focus on the Federal Law "On Consumer Credit (Loan)". Also they note the role of departmental and local acts regulating consumer crediting. The authors state the idea that the special mechanism for the implementation of the rights of borrowers, laid by the legislator, contains additional duties and restrictions for banks and other credit organizations that sell credit products to citizens, as much as is necessary to protect public interests. Such regulation of the legal status of borrowers correlates with the general ideas about the convergence of private and public law. Establishing a special legal status of the consumer citizen, the legislator reflects the interests of citizens, the interests of their counterparties, as well as public interests related to the need to ensure balanced interests of the individual, society and the state. In the process of research, the authors used analytical, formal-legal methods, the method of abstraction, which allowed to formulate conclusions on the conducted research. The authors come to the conclusion that the legislation on consumer crediting is designed not only to protect the rights of a particular borrower, but also to ensure the stability of banking relations, avoiding abuses both on the part of borrowers and banks. At the same time, the legislation on consumer creditng is oriented not only to perform protective functions, but also regulatory.