LEGAL PROTECTION FOR CONSUMERS AGAINST LATE PAYMENT INTEREST IN ONLINE LENDING SERVICES
Abstract
This research discusses legal protection for consumers regarding the imposition of late interest in online lending services. With the rapid development of fintech in Indonesia, several companies unilaterally impose excessive interest, surpassing the maximum threshold set by the Financial Services Authority (OJK). The study uses a normative juridical method, with data derived from legislation and literature. The analysis reveals that many legal fintech platforms still violate POJK No. 10/POJK.05/2022 and OJK Circular Letter No. 19/SEOJK.06/2023. These violations harm consumers financially and psychologically, exacerbated by unethical collection practices and the imposition of unilateral standard agreements. The study concludes that despite available regulations, implementation remains ineffective. It recommends stricter OJK supervision, enforcement of legal sanctions, and improved consumer legal literacy.
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