Xinhua News Agency, Beijing, March 19 (Reporter Li Yanxia) The State Administration of Finance and Administration of Financial Supervision and Administration revised the “Administrative Measures for Consumption Financial Companies” on the 18th. The revised content includes improving the entry standards for consumer finance companies, strengthening business classification supervision, and strict risk management.Strengthen consumer rights protection.
What are the relationship between financial institutions such as consumer finance companies and your life, and what impact will the new regulations bring?
What is a consumer finance company?
When you buy mobile phones, housing decoration and other daily consumption requires capital turnover, in addition to banks, you can also apply for loans from another type of financial institution, that is, consumer finance companies.
Unlike banks, the main target of consumer finance companies is that traditional commercial banks cannot touch or have inadequate and middle -income people, such as young people who have just joined the job, migrant workers, and blue -collar workers.The professional consumer credit function of consumer finance companies is more prominent, and differentiated competition with banks promotes the enhancement and convenience of financial services to enhance the financial services of low -income people.
The loan amount of consumer finance companies is relatively low, the loan period is short and more flexible.According to regulatory regulations, consumer finance companies shall not exceed RMB 200,000 for the credit credit limit of borrower loans.However, in practice, the average credit limit of most institutions is 10,000 to 50,000 yuan.From the perspective of the loan period, consumer finance companies issue loans for the loan periods are mainly concentrated from 6 to 12 months.
Since the establishment of the first consumer finance company in 2010, there are currently 31 consumer finance companies in my country.As of the end of 2023, the asset size and loan balance of consumer finance companies exceeded 1.1 trillion yuan; in 2023, more than 370 million customers were served.
In recent years, with the onlineization of residents’ consumption scenarios and consumption habits, most consumer finance companies are mainly online for online customer acquisition, expand their business scale with the help of third -party platforms, and gradually transform to consumer credit.Loan use covers main consumer scenarios such as home appliances, mobile digits, home improvement housing, cultural tourism entertainment, education and education, which effectively drives domestic demand.
Why improve the industry entry threshold?
A major focus of the new regulatory regulations released this time is to greatly increase the threshold for industry entry, including increasing the proportion of major investors in consumer finance companies from not less than 30%to no less than 50%, and increased.Consumer finance business management and risk control experience investors’ shareholding ratios, increasing the requirements for the minimum registered capital registered capital of consumer finance companies, etc.
Dong Ximiao, a researcher at Fudan University Financial Research Institute, said that this is a concrete measure of implementing the relevant spirit of the Central Financial Work Conference “Strict Small and Small Financial Institutions and Supervision requirements”, which helps improve the quality of the shareholders of consumer finance companies from the source.Shareholders’ responsibility also helps to maintain a moderate competition in the consumer financial market.
The director of the Shanghai Financial and Development Laboratory once believed that the consumer financial market has broad development space, but the industry’s competition is becoming more and more intense. Some banks are gradually sank customer groups to compete with consumer finance companies.Increasing requirements from the aspects of shareholding, professional capabilities, registered capital, etc. will help promote the sustainable development of the industry.
The method also increased the regulatory indicators of the credit increase loan business.The person in charge of the relevant department bureaus of the State Administration of Finance said that some consumer finance companies highly rely on financing guarantee companies and insurance companies’ risks, which is not conducive to improving independent risk control capabilities, and indirectly lifts up the comprehensive interest rate of high loans. ThereforeThe balance shall not exceed 50%of all loan balances.
In addition, the method has optimized and adjusted the business scope of consumer finance companies, canceled non -main business and non -necessary business, and guided consumer finance companies to focus on the main business of the main responsibility.
How to strengthen consumer rights protection?
The new regulatory regulations put forward a series of requirements for strengthening consumer rights protection, involving loan information disclosure, collection management, and personal information protection. It can be said that it has cut the pain points in the current development of the consumer finance industry.
High rates have always been the “severe disaster area” complained by consumer finance companies.Consumer finance companies cannot directly absorb deposits from the public. The source of funds is mainly from banks, etc., and the cost of funds is relatively high; the main services are low -income groups, and the risk costs are high.EssenceIn general, the loan interest rate of consumer finance companies is higher than that of banks.
The method requires consumer finance companies to “inform the borrower’s annualized interest rate, rate, repayment method, default liability, exemption clauses, and complaint channels in a prominent way”, and proposes “except for the borrower’s violation of the contract agreed situation.In addition, consumer finance companies shall not charge the borrower to charge the loan interest. “
The violence collection of consumer finance companies has also attracted much attention.Due to the insufficient management constraints of some consumer finance companies on outsourced collection institutions, frequent reconciliation, using language intimidation, and leakage of loan privacy such as infringement of the legitimate rights and interests of consumers occur.The method requires that “no improper means such as violence, threats, intimidation, and harassment shall not be collected, and third parties who have nothing to do with debt shall not be collected.”
Applying for consumer loans should be reasonable and moderate to avoid excessive liabilities increase risk.In response to problems such as overly credit and multi -credit, the method requires consumer finance companies to establish an appropriate management mechanism of consumers, and carefully evaluate consumer income level and debt repayment capacity.
Dong Ximiao said that as the economy recovers, social consumer demand will be further released, and the improvement of industry supervision rules will promote consumer finance companies to play a more important role in boosting consumption and expanding domestic demand.
