Nine banks were fined 4.82 million for housing loan violations. The nine banks are: Bank of China, Bank of Jiujiang, Jiangxi Dexing Rural Commercial Bank, Agricultural Bank of China, Zhejiang Chouzhou Bank, Jiangxi Shangli Rural Commercial Bank, Jiangsu Zhangjiagang Rural Commercial Bank, Bank of Xi'an, and Construction Bank.

1. Specific violations of the regulations by 9 banks:

1. Jiangxi Dexing Rural Commercial Bank used personal consumption loans to purchase houses, issued loans to borrowers who were not qualified as borrowers, The loan transfer is used for the end-of-month offset.

2. Bank of China Changzhou Branch issued commercial housing loans in violation of regulations.

3. The Shangrao Branch of Jiujiang Bank was fined by the Rao Supervision Bureau for issuing mortgage loans to commercial buildings that had not been completed and accepted.

4. The Agricultural Bank of China’s Chengnan New District Branch in Xining City was fined by the Qinghai Banking and Insurance Regulatory Bureau due to negligence in loan review and the formation of false personal mortgage loans.

5. Jiaxing Branch of Zhejiang Chouzhou Bank was fined by the China Banking and Insurance Regulatory Commission due to imprudent credit management and misappropriation of personal operating loan funds for house purchases.

6. Jiangxi Shangli Rural Commercial Bank issued working capital loans to real estate development companies in violation of regulations; it failed to examine the source of the acceptance bill margin, and was fined by the China Banking and Insurance Regulatory Commission for non-compliance of the source of the margin.

7. Jiangsu Zhangjiagang Rural Commercial Bank was fined by the China Banking and Insurance Regulatory Commission due to serious violations of prudent business rules by personal consumption loans flowing into the real estate sector, loan funds transferred to bank note deposits, and interbank business.

8. The Yanta Branch of the Bank of Xi'an was fined by the China Banking and Insurance Regulatory Commission due to lax control over the use of personal consumption loans and the flow of funds into the real estate sector.

9. The Yancheng Branch of China Construction Bank violated laws and regulations due to inconsistencies in the quality and price of service charges, credit card overdrafts and personal consumption loan funds flowing into the property market, failure to review the use of discount funds, and transfer of discount funds back to the drawer's account. In fact, it was fined by the China Banking and Insurance Regulatory Commission.

2. Legal basis:

In 2020, the China Banking and Insurance Regulatory Commission issued the "Interim Measures for the Management of Internet Loans of Commercial Banks" on loan management issues. The "Measures" clearly stipulate that commercial banks should agree with borrowers on clear and legal loan purposes. Loan funds may not be used for house purchase and repayment of housing mortgage loans; investments in stocks, bonds, futures, financial derivatives and asset management products; fixed assets, equity equity investments; and other purposes prohibited by laws and regulations. ?

3. Official statement:

The China Banking and Insurance Regulatory Commission stated that the China Banking and Insurance Regulatory Commission focuses on strengthening financial supervision, takes preventing systemic financial risks as the bottom line, and always insists on rectifying chaos in the financial market. In the high-pressure situation, we continue to increase the intensity of administrative penalties, severely crack down on violations of laws and regulations in key areas, comprehensively use a variety of measures to ensure the implementation of administrative penalties, ensure the authority and seriousness of administrative penalties, and effectively play the role of administrative penalty warning, education and Punitive effect. ?

Finally, the editor believes that there are many gray areas and temptations in the financial industry. No matter practitioners or financial institutions, they should remember that sentence: Don’t stretch out your hands, and you must grab them when you reach out.