TapTechNews July 11. On July 11, the National Internet Finance Association of China issued an initiative on regulating the online loan network marketing activities of financial institutions entrusting third-party Internet platforms.
In recent years, a large number of financial institutions have entrusted third-party Internet platforms to carry out online loan network marketing activities, which have enhanced the availability and convenience of credit services and promoted the development of inclusive finance. However, there are some problems in customer suitability management, personal information protection, information disclosure, etc. In order to promote the healthy development of loan network marketing activities and protect the legitimate rights and interests of financial consumers, and to prevent problems from continuing to spread, with the consent of financial management departments, the National Internet Finance Association of China calls on financial institutions and third-party Internet platforms to regulate the conduct of loan network marketing activities and jointly abide by this initiative.
TapTechNews attached the specific initiative as follows:
First, financial institutions and third-party Internet platforms should abide by relevant laws and regulations, national financial management regulations and public order and good customs, be honest and trustworthy, compete fairly, protect the right to know, independent choice and personal information security of financial consumers, implement relevant regulations such as anti-money laundering, anti-terrorist financing, interest rate management, Internet loans, credit investigation, etc., and not damage the legitimate rights and interests of the country, the public and financial consumers.
Second, financial institutions and third-party Internet platforms should sign a written entrustment agreement according to relevant laws and regulations and national financial management regulations, stipulating the scope of entrustment, the rights and responsibilities of all parties, the protection of financial consumers' rights and interests, data security, the arrangements for changes and terminations of entrusted matters, liability for breach of contract, etc. Third-party Internet platforms are not allowed to intervene or disguisedly intervene in core links of loan approval, contract signing, fund transfer and other loans.
Third, financial institutions should establish a pre-assessment mechanism, and assess third-party Internet platforms from aspects such as telecommunications business qualifications, operating conditions, technical strength, service quality, business compliance and reputation according to the principle of matching the qualifications and capabilities of third-party Internet platforms with the assumption of responsibilities. During the cooperation period, financial institutions should continuously track and assess, and timely identify, prevent and deal with risks caused by illegal financial activities or non-compliant financial businesses of third-party Internet platforms.
Fourth, third-party Internet platforms should verify the lending business qualifications of financial institutions in advance, establish a monitoring mechanism for business operations, and if illegal financial activities or non-compliant financial businesses are found, measures should be taken immediately to stop them and the clues should be handed over to the competent state departments.
Fifth, third-party Internet platforms should follow the principles of equality, voluntariness, fairness and reasonableness, and not abuse the dominant market position to destroy fair competition, and not engage in monopoly and unfair competition behaviors.
Sixth, financial institutions and third-party Internet platforms should take necessary technical security measures to ensure data security and prevent data leakage, alteration and loss.
Seventh, third-party Internet platforms should abide by the technical service standard and not use technical means to help cooperative financial institutions evade supervision, and not illegally obtain and use the customer information and business data as well as personal information of cooperative financial institutions.
Eighth, financial institutions and third-party Internet platforms should implement the relevant requirements of customer suitability management, practice the concept of responsible finance, and promote all kinds of loan products to appropriate borrowers, and not carry out targeted marketing to students in school, the elderly and other vulnerable groups with weak credit.
Ninth, when carrying out loan network marketing, it should not affect the normal use of the Internet and mobile terminals by users. In the form of pop-up pages and other forms for marketing, the closing sign should be prominently marked to ensure that it can be closed with one click. When marketing through automated decision-making methods, options not targeted at the user's personal characteristics should also be provided simultaneously, or a convenient rejection method should be provided. When bundling other financial products, it should be prominently reminded to users, not forced bundling, and the bundling option should not be set as默示 consent. It is not allowed to deceive and mislead users to click on loan marketing content or links. It is not allowed to set the loan application option as default consent.
Tenth, when carrying out loan network marketing, it should ensure that the brands of financial institutions and loan products are independent of the brands of third-party Internet platforms, and display the names or relevant logos of the financial institutions that issue loans in a clear and prominent way to avoid brand confusion among financial consumers.
Eleventh, When carrying out loan marketing through online channels such as live broadcasts, self-media accounts, and Internet groups, the marketers should be employees of financial institutions and have the relevant financial practice qualifications, and it is not allowed to use or falsely use the names of state organs, industry associations, academic institutions, etc. for false publicity or publicity that may mislead financial consumers. When using the names or images of public figures such as professionals, sports and entertainment stars, Internet celebrities, etc. for marketing, it should comply with the relevant regulations of financial, market, and cyber management departments.
Twelfth, the loan network marketing content should meet the requirements of the socialist spiritual civilization construction and core values, and should be determined in advance after review by financial institutions, and the review materials should be archived for future reference.
Thirteenth, the loan network marketing content should be based on the loan contract terms and should include key information such as the loan subject, loan conditions, actual annual interest rate, annualized comprehensive capital cost, risk warnings, etc. It is encouraged to display the actual annual interest rate range of the loan in the form of upper and lower intervals, and it is not advisable to cause customer misunderstandings with expressions such as the interest rate is as low as a certain value.
Fourteenth, the loan network marketing content should be accurate and popular, and displayed in a clear and prominent way, and there should be no intentional concealment or major omissions.
Fifteenth, the loan network marketing should not contain the following contents: (1) false or misleading contents; (2) quoting untrue, inaccurate or unverified data and materials; (3) inducing publicity with low thresholds, low interest rates, high amounts, etc.; (4) other contents prohibited by laws, regulations and national financial management regulations.
Sixteenth, financial institutions and third-party Internet platforms should strengthen the compliance review of loan network marketing, review the m arketing activities and marketing behaviors carried out through various online channels in a timely manner, establish a traceable system for marketing activities and marketing behaviors, and keep relevant videos, audios, graphic materials, etc. for inspection.
Seventeenth, financial institutions and third-party Internet platforms should fully fulfill the obligations of financial consumer education and protection, guide consumers to borrow rationally, remind consumers to read carefully before signing the loan contract, and key clauses such as loan amount, loan term, loan subject, actual annual interest rate, annualized comprehensive capital cost, risk warnings, repayment arrangements, overdue collection, consultation and complaint channels, liability for breach of contract, etc. should be displayed in an accurate, popular, clear and prominent way, and measures should be taken to ensure that borrowers can sign only after reading all the clauses of the contract.
Eighteenth, when financial institutions entrust third-party Internet platforms to carry out network marketing activities of other financial products except loans, this initiative shall be referred to.
Nineteenth, it is encouraged that third-party Internet platforms file with the association for mobile Internet applications such as Apps.