The Supreme Court recently replied to the Guangdong Higher People's Court on the scope of application of the new judicial interpretation of private lending, saying that seven types of local financial institutions, such as microfinance companies, financing guarantee companies, regional equity markets, pawn shops, financial leasing companies, commercial factoring companies and local asset management companies, which are supervised by local financial supervision departments, belong to financial institutions approved by financial supervision departments, and their disputes arising from engaging in related financial business are not applicable to the new judicial interpretation of private lending. The revised judicial interpretation clarified other issues. This reply will take effect on 202 1+0+0+0.

This means that spending money, borrowing money and consumer finance do not belong to the upper limit of judicial protection of private lending interest rates. Why do we say this?

We know that if you borrow money from Ant Financial, the loan contract is not signed with Alipay, but with Chongqing Ant Financial Chengxin Small Loan and Guangfa Bank.

This means that the new judicial interpretation of private lending does not apply to your small loan in Ant Shangcheng, Chongqing, which means that it is implemented in accordance with the two lines and three districts.

Some people will say that there is also Guangfa Bank.

What I want to talk about is the financial loan contract dispute case between Ping An Bank Wenzhou Branch and the borrower Hongmou.

The judgment of the first instance refers to the newly issued judicial interpretation, and adjusts the interest, compound interest and overdue interest agreed in the financial loan contract in this case to four times the quoted interest rate (LPR) of the one-year loan market.

After the second trial, the judgment was changed on the grounds that according to the second paragraph of Article 1 of the new judicial interpretation of private lending, financial institutions and their branches engaged in loan business established with the approval of financial supervision departments are not applicable to the judicial interpretation for disputes caused by loans and other related financial businesses.

Of course, Guangfa Bank is also a serious financial institution.

Of course, there are also consumer finance companies such as Gitzo, Zhaolian and Instant on the Internet.

unfortunately

Consumer finance companies are non-bank financial institutions and are directly supervised by the CBRC. They can not only enjoy inter-bank lending, but also be included in the credit information system of the People's Bank of China, and their formality can be guaranteed through strict regulatory standards.

Then let me tidy up. Micro-loans are micro-banks, and online merchant loans are online merchant banks, both of which are financial institutions. Flowers and white stripes are small loans.

Counting, it seems that they are not limited by 4 times lpr, embarrassing!