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Production | Consumer Finance Channel
It is reported that Yunnan International Trust Co., Ltd. (hereinafter referred to as "Yunnan Trust") was ordered by the Yunnan Supervision Bureau of the China Banking Regulatory Commission to rectify three illegal acts: outsourcing risk control business, excessive interest rate, and lending to institutions that are not qualified for lending business.
One is in good condition.
The first problem is that the risk control business is suspected of outsourcing. 0030 10 clearly stipulates that banking financial institutions shall not outsource core business such as credit review and risk control when they cooperate with local institutions to carry out loan business.
The second big problem is that interest rates are too high. The contract interest rate signed by Yunnan Trust and the borrower is as high as 36%. However, according to Article 26 of the Notice on Standardizing and Rectifying Cash Loan Business, the people's court only supports the interest rate with an annual interest rate not exceeding 24% agreed by both borrowers and borrowers. As a licensee, Yunnan Trust set the interest rate at 36%, which is obviously too high.
Moreover, it violates the provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases (Yun Cai Fa [2012] No.3) that the loan pricing of banking financial institutions should fully reflect the capital cost, risk cost and management cost, and the loan interest rate should generally not rise to the maximum limit.
The third problem is that Xiaoxiang Youpin is not qualified for lending business, and Yunnan Trust provides loans in disguised form as a trust channel, which violates the Notice of CBRC on Regulating the Irregular Operation of Banking Financial Institutions. "Banking financial institutions shall not provide funds to institutions without loan business qualifications in any form, and shall not invest and issue loans to institutions without loan business qualifications."
Based on these three problems, Yunnan Banking Regulatory Bureau ordered it to rectify.
Yunnan Trust is a licensed financial institution and is known as one of the four trust funds in consumer finance. On 20 13, the layout of consumer finance business began. By 2020, hundreds of consumer financial assets have been docked, and the total lending amount of consumer finance exceeds tens of billions.
Trust business in Yunnan mainly includes self-operated business and trust business. Self-operated business invests in the primary securities market, etc. Trust business atmosphere includes securities investment, property rights, payment and wealth management, consumer finance and so on. According to the previously disclosed information, the net profit of Yunnan Trust in 20 18 was 290 million yuan, and the net profit loss of trust business was11700 million yuan. Since then, the annual report of 20 19 has not been made public.
In the 20 19 Chengxing International case, Yunnan Trust issued a number of "cloud use" series of trust products for Guangzhou Chengxing Marketing Management Co., Ltd. (now called "Guangdong Zhongcheng Industrial Holdings Co., Ltd."), an affiliated company of Chengxing International. The trust funds are used to purchase the accounts receivable of leading e-commerce enterprises (including but not limited to JD.COM and Suning) held by Guangzhou Chengxing as the payer. However, the audit of Yunnan Trust was not strict enough, and Guangzhou Chengxing did not find forged business contracts, resulting in six products of Yunnan Trust being punished, and it was difficult to pay more than 1 1 billion yuan.
In addition to cooperating with others to step on the thunder, Yunnan Trust personally went to the next game to test the water, and the cash loan did not make a good splash. Shortly after the launch of Yun Xin Buffalo 3354, complaints followed. Users complain that Yunnan Trust Buffalo products have problems such as excessive interest and violent collection. A few days later, Buffalo changed its name to "Yunnan Trust Non-human Credit Service Platform".
criticize
Yunnan Trust explores its own way of consumer finance, and the cooperation platform it chooses seems unreliable.
Xiaoxiang Youpin official website is positioned as an online shopping platform of Haitao, focusing on installment shopping. Can provide users with maternal and child, luxury goods, small household appliances and other products, but rarely mention lending business.
Judging from the complaint information collected by the complaint platform, there are 7,888 complaints about elephant premium products, all of which involve high interest rates, violent collection, information leakage and other issues.
A floral teacher complained.
But if the partners of the trust company are not qualified to lend, how can they participate in seizing the cash loan market? Trust companies should focus on establishing credit system and perfecting non-human credit risk control system, so that they can truly gain the ability to participate in market competition.
Yunnan Trust has always had the ambition of consumer finance business, but it lacks core competitiveness, the selection of partners is not rigorous enough, and the winning bid is not optimistic.
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