Ostroushko A.V., Nikolaev V.V. On the issue of information and legal regulation of provision of credit services for the population via the Internet

Abstract: At present, microfinancing and credit organizations have become widespread on the lending market. Using the advantages of the Internet, these actors of the financial market overcome territorial borders and try to attract the potential borrowers. With the help of websites, creditors inform the public about the conditions of a cash loan or a micro loan. The research reveals the existing drawbacks of the legislation, connected with the borrowers informing via the Internet. The absence of the list of official websites of microfinancing institutions also causes concern, since it infringes the information security of the person. The author applies the hermeneutical method, the methods of analysis and synthesis, the systems method, the comparative-legal method, and other methods of legal research. The author finds out that the level of information transparency of microfinancing institutions doesn’t conform to the requirements of information security of the person in lending operations. The author formulates the list of general problems of borrowers informing, including the Internet sources usage; their solution can improve the security of microfinancing. Due to the absence of a complex study of information and legal regulation of provision of credit services via the Internet in administrative law, the authors conclude that the development of the institution of legal regulation of borrowers informing is necessary. 

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