"In recent years, consumers have been complaining about credit card over-granting, excessive installment fees or liquidated damages, and violent collection." March 14 CBRC said.
Judging from the consumer complaints of the banking industry published by the CBRC every quarter, the proportion of credit card and loan complaints has remained high for a long time. This kind of business is related to the scattered scale and large number of retail customers, but it also has its own reasons.
Regarding the irregular marketing of personal consumption loans, the CBRC had previously informed a joint-stock bank that "the real interest rate was not fully displayed when the Internet loan business was launched, and the low interest rate was unilaterally advertised, which infringed on consumers' right to know. The annualized comprehensive capital cost actually borne by customers is 2.5 times of the advertising interest rate, and no customer has enjoyed the lowest advertising interest rate since the product went online. "
In the past two years, the marketing of personal consumption loan products by banks has repeatedly overturned, from excessive marketing of "bride price loan" and "cemetery loan" to "no customer enjoys the lowest publicity rate", which highlights the fierce competition in the personal consumption loan market.
The China Financial Stability Report 202 1 issued by the People's Bank of China shows that the leverage ratio of China's household sector has been rising continuously in recent years, from 18.2% at the end of 2008 to 65 1% at the end of 20 19, with an average annual increase of 4.3 percentage points, but the growth momentum has been maintained since 2020.
The White Paper on the Development of Consumer Finance Industry 202 1 jointly published by Lookup think tank and China Everbright Bank believes that this is mainly because the excessive growth of personal debt has been effectively curbed and the debt structure has been continuously optimized. From the policy point of view, first, due to the continuous tightening of mortgage policy, the growth rate of personal housing loans has declined for three consecutive years; Secondly, P2P peer-to-peer lending institutions have all been closed, and illegal financial activities such as illegal fund-raising, cross-border gambling and underground money houses have been curbed; Thirdly, the regulatory authorities have strengthened the supervision of the loan-assisting business and further reduced the scale of Internet loans. From the demand side, first, due to the economic downturn and epidemic situation, some consumers' expectations of future income have declined, so they actively control the scale of liabilities; Secondly, some young people's consumption concepts have changed and gradually got rid of the identity of "debt family" and "moonlight family".
However, the insiders believe that the development of consumer finance industry should not be "exhausted" in pursuit of scale, but should study the real demand of the market and provide services that users need.
The CBRC also mentioned the disadvantages of using consumer loans in non-consumption areas. "Inducing or acquiescing some consumers to use consumer credit funds such as credit cards and micro-loans for non-consumer areas such as house purchase, stock trading, wealth management and repayment of other loans. Disrupted the normal order of the financial market. "
Su said that in the practical application of consumer loans, first, we should strengthen the management of internal personnel to prevent internal personnel from being accomplices in the improper use of consumer loans; Second, before lending, it is necessary to clarify the instructions for the use of consumer loans to the applicant and reveal the consequences of improper use; Third, it is necessary to strengthen the monitoring of funds in loans and find and dispose of "problem" funds as soon as possible.
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