Open AccessEFFECTIVENESS OF THE REGULATION ON FINANCIAL SERVICE CONSUMER PROTECTION IN INDONESIA
Author(s) -
Triyana Yohanes,
Nikolaus Budi Arianto Wijaya
Publication year - 2019
Publication title -
justitia et pax/justitia et pax
Language(s) - English
Resource type - Journals
eISSN - 2541-3007
pISSN - 0852-1883
DOI - 10.24002/jep.v35i1.1964
Subject(s) - indonesian , damages , business , financial services , enforcement , consumer protection , settlement (finance) , normative , service (business) , finance , legal research , accounting , marketing , law , commerce , political science , philosophy , linguistics , payment
Some cases of financial business transactions practices in Indonesia had caused financial damages were suffered by the consumers. Eventhough Indonesia had well regulated the protection of financial service cunsumers, in practices of dispute settlement oftently the concumers could not got fair solutions, so their rights could not be well fullfiled. The problem in this research was studied by a normative legal research, the data were analyzed by qualitative and comparative methods, and the conclusion was done by deductive method. From the analyzed data, it could be concluded that the effectiveness of the consumers protection in the sector of financial services business regulation in Indonesia was not high due to some reasons, such as, the weakness of the law enforcement, the OJK had not been pro-active in giving protection to the financial service consumers and the problem of legal culture of the Indonesian society.