Authoritative Express ｜ New rules for the credit card industry are here

China Banking Regulatory Commission and People's Bank of China released on the 7th

"Notice on Further Promoting Credit Card Business Standardized Healthy Development"

my country's credit card industry ushered in new regulations

For some banks to collect interest in disguise in the name of handling fees

The notification requires the standardization and transparency of the management of credit card interest rates

And take effective measures to promote the level of interest and fees reasonably

For credit card installment business chaos

The notification requires uniformly using interest forms to display the cost of use business funds in the form of interest

The staging business period must not exceed 5 years

For some banks issuing card issuing cards, repetitive card issuance and other issues

The notice is clear that banks with long -term sleep card rates exceeding 20 % must not be added card

Notification Encouragement banks to explore online credit card business through pilot methods

Rich credit card service functions and product supply

Continuously enhance the sense of obtaining, convenience, and security of the people's card for cards

Source: Xinhua News Agency

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