Welcome to the new rules for Internet loans! The restrictions on the three types of banks have been tightened and illegal collection is strictly prohibited, and the comment area is applauded

Recently, the China Banking and Insurance Regulatory Commission (CBIRC) issued new regulations on regulating the Internet loan business, aiming to strengthen the supervision of the Internet loan market and prevent financial risks. According to the new regulations, three types of banks – large state-owned commercial banks, joint-stock commercial banks and city commercial banks – will be subject to stricter restrictions when conducting online lending business.

The new regulations require the above-mentioned three types of banks to strictly comply with relevant regulations such as risk management and consumer rights protection when carrying out online lending business. At the same time, banks need to strengthen the qualification review of partners and clarify the responsibilities and obligations of all parties to ensure the compliant use of loan funds.

In terms of risk management, the new regulations emphasize that banks should establish a sound risk assessment system to conduct a comprehensive assessment of the borrower's credit status, and reasonably determine the loan amount and interest rate based on the assessment results. In addition, banks should also set up a special risk reserve to deal with the risk of non-performing loans that may arise.

In response to the frequent illegal collection problems in recent years, the new regulations explicitly prohibit any form of violent collection and harassment. When collecting debts, banks must follow the principles of legality and compliance, respect the legitimate rights and interests of borrowers, and must not take measures that harm the dignity and interests of borrowers.

The promulgation of the new regulations marks that the Internet lending business has entered a more standardized and strict regulatory stage. This is of great significance for promoting the healthy development of the Internet loan market, protecting the rights and interests of consumers, and maintaining financial stability. At the same time, it also requires banks to innovate their business models without neglecting risk control and compliance operations.