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China Internet Finance Association: guard against disguised "cash loan" business risks

via:新浪科技     time:2018/6/12 14:05:38     readed:85

The China Internet Finance Association solemnly reminds all member units and related institutions providing online microfinance services that they should abide by industry self-regulation requirements, adhere to compliance development and prudent operations, and consumers should remain vigilant and prudently choose institutions or platforms that provide loan services. Rationally handle lending.

The Mutual Gold Association stated that if it finds that an institution that does not have lending qualifications illegally launches a loan business, consumers should report it to the regulatory authority or the China Internet Finance Association, and if it is suspected of committing a crime, it shall promptly report the case to the public security agency.

The following is the full text of the risk reminder:

Tips for preventing risks in disguised "cash loan" business

Since last year, the state financial regulatory authorities successively issued the “Regulations on Regulating and Refining the “Cash Loan” Business” (Rectification Office Letter [2017] No. 141) and “Notice on Regulating Private Loan Acts to Protect the Economic and Financial Order” (Yinbao Document No. 10 (2018) of the Board of Regulatory Commissions clarified the regulatory requirements for online lending such as “cash loans”, strengthened the supervision of “cash loan” businesses and gradually mitigated the risks formed, and maintained the stability of the social financial order. . However, according to recent monitoring, there are still some organizations or platforms that are “transforming the vests” to continue to issue loans in the form of cell phone leaseback, false shopping and reselling, and some are also forced to tying member services and commodities during the loan process. Ways to raise interest rates in disguise. Particularly bad is that a few platforms were found to have deliberately caused the borrowers to form overdue periods to collect high overdue fees and seriously infringed the rights and interests of financial consumers. To this end, the China Internet Finance Association solemnly reminds all member companies and relevant institutions that provide online microfinance services that they should abide by industry self-regulation requirements, adhere to compliance development and prudent operations, and consumers should remain vigilant and prudently choose to provide loan services. Institutions or platforms, rational handling of loans.

The China Internet Finance Association urges that all member units and related organizations should operate in compliance with laws and regulations. Institutions that have not obtained qualifications for operating lending businesses in accordance with the law must not disguise their loans in any form. Institutions with legal lending qualifications should abide by industry self-regulation requirements and take the initiative. Strengthening internal management and granting loans should comply with relevant state laws and regulations and policies, and eliminate any irregularities that increase interest rates and maliciously collect overdue fees. At the same time, it should earnestly fulfill financial consumer education obligations, truthfully carry out information disclosure, give important tips on pricing of interest rates, and must not use false publicity to induce financial consumers to accept products and services that do not conform to their risk perception and repayment abilities.

Consumers are required to strengthen financial knowledge learning and enhance their awareness of self-protection. They should carefully read the terms of the contract when purchasing related products and services, retain related evidence, and damage their legitimate rights and interests. They can claim their rights through legal means; if they find that they do not have lending qualifications Where an organization illegally launches a loan business, the consumer shall report it to the regulatory authority or the China Internet Finance Association, and if it is suspected of committing a crime, it shall promptly report the case to the public security agency.

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Ali Cloud

China IT News APP

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