Excessive credit granting, violent collection…China Banking and Insurance Regulatory Commission (CBRC) issued warnings on excessive lending marketing induced risks

2022-04-29 0 By

Beijing, March 14 (reporter Luo Zhizhi) According to the official website of the China Banking and Insurance Regulatory Commission (CBRC), in recent years, there have been consumer complaints reflecting excessive credit, credit card installment commission or default gold high, violence collection, etc.In addition, a few businessmen induce consumer to pay in advance with loan or overdraw means, cannot run continuously because of all sorts of reasons after, bring about consumer cannot enjoy the service that already bought this not only, face reimbursement pressure and difficulty of protecting rights even.In response, the CBRC Consumer Protection Bureau today issued a risk alert to remind consumers to stay away from excessive lending marketing traps and prevent excessive credit risks.At present, personal consumer credit services such as credit cards and microfinance are deeply bound with various consumption scenarios, which facilitates life and reduces immediate payment pressure to a certain extent. However, if consumers use consumer credit frequently and superimposed, it is easy to cause risks such as excessive debt and credit damage.It is to induce consumer to deal with business such as loan, credit card installment, encroach on consumer right to know and independent choice.Beware of confusing concepts in the marketing process and inducing consumers to use credit loans and other behaviors, such as packaging microcredit and credit card installment services with “preferential” words;Or the price publicity is not transparent, do not express the loan or installment service annual interest rate;There are deliberately induced consumers to choose credit payment methods in the process of payment.If consumers do not have a strong sense of self-protection and risk prevention and do not pay attention to reading the terms of the contract and authorization content, the signing and authorization process is more random, easy to be induced to handle loans, credit card installment business.Second, induce consumers to consume in advance.By using big data information and accurate tracking, some institutions have mined users’ “consumer demand” and, regardless of the actual situation of consumers’ comprehensive credit line, repayment ability and repayment source, over-marketing and induced consumers to consume ahead of their time, resulting in excessive credit and debt beyond personal affordability risks.Consumer should know, after using consumption credit service, need agrees according to the contract to repay principal on schedule and interest fee, the interest fee such as credit card installment, credit loan may not be preferential, convert into the comprehensive loan cost after annual change cost calculation may be very high, excessive credit is easy to cause excessive debt.The third is to induce consumers to use consumer loans for non-consumption areas.Some consumers were induced or acquiesced to use credit cards, microcredit and other consumer credit funds in non-consumption areas, such as buying houses, trading stocks, managing financial affairs and repaying other loans, disrupting the normal order of the financial market.Consumers who illegally flow the funds obtained from consumer credit to non-consumption areas should eventually bear the corresponding consequences. It is not advisable to “borrow to borrow” or “borrow to borrow”.Fourth, excessive collection of personal information, infringement of consumer personal information security rights.Some financial institutions and Internet platforms do not protect consumers’ personal information properly when they carry out relevant business or cooperative business, such as obtaining authorization by default consent or generalized authorization.Using personal information for purposes other than credit card business or consumer credit business without consumers’ consent or against consumers’ will;Improper access to consumer external information.The above excessive collection or use of consumer personal information, infringement of consumer personal information security rights.In view of the above problems, the CBRC Consumer Rights and Interests Protection Bureau reminded consumers to understand the relevant policies and risks of consumer credit, prevent excessive credit overdraft consumption risks, improve legal awareness, and protect their legitimate rights and interests.First, we should adhere to the concept of spending within our means and rationally use credit cards, micro-credit and other services.According to their income level and consumption capacity, do a good job of income and expenditure planning.Reasonable compliance with a credit card, small loans and other consumer credit service, understand business, installment loan product annual interest rate, the actual cost, such as the comprehensive cost of borrowing, in no more than personal and family burden ability, on the basis of reasonable give play to the role of consumption of consumer credit support, develop good consumption habits reimbursement, establish scientific and rational view, spending and debt financing.Second, obtain credit services from formal financial institutions and channels, and do not use consumer credit for non-consumption areas.Establish a sense of responsible lending, do not excessive consumption and excessive debt, choose formal institutions for loans and other financial services.Beware of lowering the loan threshold and concealing the actual interest rate standard in loan marketing.In particular, we should enhance the awareness of risk prevention, do not believe false propaganda of illegal online lending, and stay away from predatory loans such as bad campus loans and routine loans.Do not use credit cards, microcredit and other consumer credit funds for purchasing real estate, investing in stocks, financing, repayment of other loans and other non-consumption areas.Third, improve the awareness of personal information security protection.In the process of consumption to improve the awareness of protecting their own legitimate rights and interests.Carefully read the terms of the contract, do not sign the authorization at will, pay attention to the important personal documents, account password, verification code, face recognition and other information.Do not arbitrarily entrust others to sign agreements, authorize others to handle financial business, to avoid giving opportunities to lawbreakers.Once found infringement of their own legitimate rights and interests, to promptly choose legal ways to protect their rights.