Rectify chaos and upgrade supervision
Loans for college students to "block the side door" and "open the front door" (Rui Finance)
In recent years, chaos of Internet consumer loans for college students has occurred from time to time.
In order to further regulate the Internet consumer loan business for college students and strengthen the education and guidance of college students, the General Office of the China Banking and Insurance Regulatory Commission, the Secretariat of the Central Cyberspace Affairs Office, the General Office of the Ministry of Education, the General Office of the Ministry of Public Security, and the General Office of the People’s Bank of China have recently jointly issued the "Regarding Further Regulations" Notice on the Supervision and Administration of Internet Consumption Loans for College Students.
Many parties have pointed out that the "Notice" clearly "blocks the side door" and "opens the front door", which will help safeguard the legitimate rights and interests of college students and guide the healthy development of campus financial services.
Safeguard the legitimate rights and interests of college students
"No mortgage", "low interest", "medical beauty loan", "routine loan", "training loan"... In recent years, some illegal lending institutions have used a variety of gimmicks to induce or even mislead college students to borrow.
It seems that the borrowing process is "temporarily easy", but many college students have fallen into debt quagmire because of this, and "campus loans" have become "campus harm."
The release of this "Notice" is precisely to point out the chaos of college students' Internet consumer loans.
"Some Internet microfinance institutions cooperate with technology companies to target university campuses and issue Internet consumer loans through false and inductive propaganda to induce college students to spend excessively on Internet shopping platforms, causing some college students to fall into the trap of high loans. , Has a bad social impact.” The heads of relevant departments of the China Banking and Insurance Regulatory Commission and other five ministries and commissions pointed out when answering reporters’ questions on the "Notice."
The "Notice" focuses on the Internet consumer loan business for college students, and further strengthens the customer marketing management and risk prevention requirements of lending institutions.
"We must resolutely curb the phenomenon of precise'harvesting' of college students on the Internet platform, and earnestly safeguard the legitimate rights and interests of students." The above-mentioned person in charge pointed out.
According to Dong Ximiao, the chief researcher of China Merchants Finance, in the past few years, university "campus loans" have been proliferated and "naked loans" have occurred from time to time, which has increased the debt burden of university students, disrupted university campus order, and has also accumulated financial resources to a certain extent. risk.
The "Notice" has introduced measures in response to new situations and new problems that have emerged in recent years, which will help further regulate university campus financial services.
Intensify the investigation and punishment of illegal and criminal acts
How to supervise college students' Internet consumer loans?
The "Notice" clarified that small loan companies are not allowed to issue Internet consumer loans to college students, and institutions established without the approval of the regulatory authorities are not allowed to provide credit services to college students.
At the same time, it will further strengthen the management of Internet consumer loans for college students from licensed financial institutions such as consumer finance companies and commercial banks.
On the one hand, it regulates the marketing behavior of lending institutions and their outsourcing cooperative institutions.
Lending institutions are required to substantively review and identify college students’ identities and real loan uses. They must not use college students as potential customers for targeted marketing, and must not use false, misleading, or inductive publicity and other improper methods to induce college students to consume ahead of time or borrow excessively, lending institutions outsource cooperation Institutions are not allowed to push and attract college students to lending institutions.
On the other hand, we will strengthen the risk management of internet consumer loans for college students in banking and financial institutions.
Further clarify risk management requirements for key links such as pre-loan review and post-loan management, require strict implementation of the second repayment source of college students, standardize collection behavior, strengthen personal information protection, and all college students’ Internet consumer loan credit information must be timely, complete and accurate Submit to the basic database of financial credit information.
The "Notice" also clearly intensified the investigation and punishment of illegal and criminal acts, severely cracked down on criminal activities carried out by way of routine loans, usury, etc. against college students, and intensified the crackdown on illegal and criminal activities such as illegal detention, kidnapping, and violent collection. Crack down on illegal and criminal activities that infringe on citizens' personal information.
Use "good money" to expel "bad money"
What should I do with the Internet consumer loans that have been issued for college students?
The "Notice" clearly stated that, first, small loan companies are required to formulate a rectification plan. In principle, the loans that have been issued will not be extended, and the existing business will be gradually digested, and new business in violation of regulations is strictly prohibited.
The second is to require banking financial institutions to strengthen investigations, rectify illegal businesses within a time limit, and strictly implement risk management requirements.
The heads of the relevant departments of the five ministries and commissions including the China Banking and Insurance Regulatory Commission also emphasized that colleges and universities should actively cooperate with relevant departments to do the relevant work: first, "block the side door" and resolutely resist bad campus network loans; second, "open the front door" to satisfy college students. Demand for credit.
“At present, there are more than 40 million college students in China, and the young generation of college students has an objective existence and rapid growth in financial service needs. It needs to be treated with a scientific attitude and meet the financial service needs of college students in an appropriate way.” Dong Ximiao believes that financial institutions should become The main force of campus financial services is to develop targeted and customized new products for college students, such as providing credit cards with quotas and moderate interest rates, consumer loans, etc., to help college students form a correct view of financial consumption and accumulate good personal credit.
The above-mentioned person in charge also pointed out that colleges and universities should cooperate with banking financial institutions to develop targeted financial products such as college education assistance, training, and entrepreneurship with convenient procedures, reasonable interest rates, and controllable risks.
Attach importance to financial services for college students, actively connect with banking financial institutions, unblock formal campus credit service channels for college students with reasonable needs, use “good money” to drive out “bad money”, and strive to purify the campus financial market environment.
Reporter: Li Jie