Zhongxin Finance, February 10. According to the China Banking and Insurance Regulatory Commission’s news on the 10th, on the 9th, the Consumer Rights Protection Bureau of the China Banking and Insurance Regulatory Commission issued a notice on the infringement of the legitimate rights and interests of consumers by Mercedes-Benz Auto Finance Co., Ltd.
According to the report, the on-site inspection found that Mercedes-Benz Auto Finance Co., Ltd. (hereinafter referred to as: Mercedes-Benz Auto Finance) had the following acts of infringing on the legitimate rights and interests of consumers.
1. The publicity materials do not clearly state the loan product provider
Mercedes-Benz Auto Finance provided to dealers in July 2019 the promotional materials for the "'Can't Hide' Series GLA Moments Poster-General Version", which put company loan products and Mercedes-Benz Leasing Co., Ltd. leased products on the same page , but did not clearly state that the loan product provider is Mercedes-Benz Auto Finance; the promotional materials for the "Yes Series Moments Posters" provided to dealers in January 2020 promoted both loan products and leasing products in the name of "Mercedes-Benz Finance", only prompting "'Mercedes-Benz Finance' refers to Mercedes-Benz Auto Finance and Mercedes-Benz Leasing".
The publicity materials do not clearly state the behavior of the loan product provider, and do not comply with the relevant provisions of the Guidelines for the Protection of Consumer Rights and Interests in the Banking Industry.
2. The disclosure of service price information does not meet the requirements
Mercedes-Benz Auto Finance disclosed the "Mercedes-Benz Auto Finance Co., Ltd. Charge Items Publicity" on the official website. The specific path is: car purchase support - financial services - compliance publicity, which is listed in the third-level directory of the official website.
Mercedes-Benz Auto Finance's failure to publicize service price information in a prominent position on the homepage of the website does not comply with the relevant provisions of the "Measures for the Administration of Service Prices of Commercial Banks".
3. The standard terms on the authorized use of consumer information do not follow the principles of legality, legitimacy and necessity
During the inspection period from May 2019 to December 2020, the "Auto Loan Mortgage Contract" provided by Mercedes-Benz Auto Finance and signed with consumers stated that the consumer authorized the company to authorize any company within its group, other lenders third-party entities that provide services to lenders, collect, disclose, and permit their use of consumer information.
The terms of this authorization shall remain in effect during the term of the contract and after the contract is terminated or rescinded.
The above-mentioned provisions on the scope of disclosure of consumer information and the duration of the use of consumer information do not follow the principles of legality, legitimacy, and necessity, and do not comply with the Law on the Protection of Consumer Rights and Interests and the General Office of the State Council on Strengthening the Protection of Financial Consumer Rights and Interests. Guiding Opinions" and the relevant provisions of the "Guidelines for Information Technology Risk Management of Commercial Banks".
4. Inadequate implementation of consumer rights protection review
In the internal product review process of Mercedes-Benz Auto Finance, the review records of the two products were only signed by the Consumer Rights Protection Commissioner, and no clear and specific review opinions were provided in accordance with regulatory requirements.
The financial advisor marketing guidance materials, training materials, etc. produced have not been reviewed for the protection of consumer rights and interests of the company.
The review of the protection of consumer rights and interests of Mercedes-Benz Auto Finance has not been carried out in place, and it does not comply with the relevant provisions of the "Guiding Opinions of the China Banking and Insurance Regulatory Commission on Strengthening the Construction of the System and Mechanism for the Protection of Consumer Rights and Interests by Banking and Insurance Institutions".
The circular pointed out that the above-mentioned actions of Mercedes-Benz Auto Finance violated consumers' right to know and their right to choose, and there were hidden risks in consumer information security.
Mercedes-Benz Auto Finance has made rectifications in accordance with regulatory requirements.
All banking and insurance institutions shall strictly implement the laws, regulations and supervisory systems on the protection of consumer rights and interests, earnestly assume the main responsibility for the protection of consumer rights and interests, establish and improve the working system and mechanism for the protection of consumer rights and interests, conduct business activities in compliance with laws and regulations, and safeguard the legitimate rights and interests of financial consumers.
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