Source: Beijing Business Daily
Original title: Internet lending industry is expected to be fully integrated into the unified credit reporting system
Internet lending industry is expected to be integrated into a unified credit reporting system. On September 4, Beijing Business Journal reporters learned from people familiar with the situation that the Leading Group on Internet Financial Risk Regulation and the Leading Group on Internet Credit Risk Regulation jointly issued the Notice on Strengthening the Construction of Credit Reporting System in the Field of P2P Internet Credit (hereinafter referred to as “the Notice for Strengthening the Construction of Credit Reporting System in the Field of P2P Internet Cre《 Notice) to support access to financial credit information basic database operation agencies, Baihang Credit Reporting Agencies and other credit reporting agencies in Yingwang Credit Reporting Agencies. However, we need to pay attention to the fact that the construction of credit information system in China’s online lending industry has just started, and there are still many barriers. Industry analysts believe that the relevant personal information data protection laws and regulations in the online lending industry are not yet perfect, and there are vague zones in the collection of authorization, mining and modeling.
Incorporation of Credit Reporting System in Network Credit Institutions
Internet lending institutions will access the most authoritative credit information system. According to the Notice, the regulatory authorities require the leading groups of Internet financial risk regulation work, the leading groups of Internet credit risk regulation work to organize the network lending institutions operating under their jurisdiction to access the operation agencies of the basic database of financial credit information, Baihang Credit Reporting, etc. Credit agencies.
According to the Notice, the operation agencies of the basic database of financial credit information, Baihang Credit Reporting and other credit reporting agencies should collect, collate, preserve, process and provide credit information to the outside world in accordance with the law, take reasonable measures to ensure the accuracy of information and the security of information system, and establish a monitoring system for abnormal inquiry and compliance use. When information security incidents occur, the query service should be suspended in time. Credit investigation institutions should establish information objection processing mechanism to protect the legitimate rights and interests of information subjects. Internet lending institutions shall collect and submit relevant credit information in accordance with the law and regulations, and provide information on interest rates of online lending transactions to credit reporting institutions.
It is worth mentioning that if the interest rate exceeds the lending rate supported by the People’s Court in the Provisions of the Supreme People’s Court on Several Questions Concerning the Law Applicable to the Trial of Civil Lending Cases, the information subject has the right to raise objections to the credit bureau or the online lending Bureau in accordance with the Regulations on the Administration of Credit Reporting Industry and request correction. This means that “if the interest rate exceeds 36%, the borrower will not be included in the credit investigation without paying back the money, and the Internet lending institutions will also be required to adjust the interest rate.” A senior member of the mutual fund industry pointed out.
“This platform access is conditional access, the requirement is a platform for compliance operation.” Zhang Yexia, president of the Institute of Online Credit Home, said that the Notice emphasized that while the online credit platform was connected to the credit information system, it also provided information on the interest rates of online credit transactions to credit agencies. There was a mechanism to deal with objections to the borrowing rates that exceeded the red line. In the future, it was expected that there would be uniform requirements on the reporting format.
Rehabilitation and Abandonment of Debt
“Old Internet creditors can no longer be relied on.” This notice also brought a heavy blow to the “old Internet creditors.” Regulatory authorities mentioned that for the online credit institutions that had withdrawn from operation before the date of the release of this notice, they should continue to follow the spirit of “Notice on Further Improving the Disciplinary Work of Internet Credit Industry for Breach of Credit”. Collect and screen the relevant information of dishonesty and transmit it to the operation agencies of the basic database of financial credit information and Baihang Credit Reporting Agency.
In terms of screening the list of dishonest persons, the regulatory authorities mentioned that the larger amount of enterprise borrowers and individual borrowers is preferred (more than 24% of the interest should be deducted); the longer overdue time of enterprise borrowers and individual borrowers is preferred; legal and necessary collection has been carried out; and the actual controllers of lost and runaway P2P Online lending institutions. And senior management. The screening criteria can also be formulated according to the actual situation of the region.
“Notice” also gives the “Internet Credit Old Trust” a certain repayment period. After the grace period is over, the designated department stamps the list of discredited persons and transfers it to the credit reporting agencies such as the operation agencies of the basic database of financial credit information and Baihang Credit Reporting Agency. Supervisory authorities mentioned that designated departments should set up channels for handling objections and complaints, and cooperate with credit bureaus to deal with relevant complaints and objections.
The Circular also encourages banking financial institutions and insurance institutions to increase the interest rates and property insurance premiums of credit-losers in P2P online lending, or to limit the provision of loans, insurance and other services to them, in accordance with the principle of risk pricing. Similarly, local governments are encouraged to establish joint punishment mechanisms across departments according to law, and to increase punishment for dishonesty, so as to form a common governance pattern of government departments’collaboration, self-discipline management of industry organizations and extensive supervision by public opinion. Financial credit information database operation agencies, Baixing Credit Reporting agencies and other credit reporting agencies should provide support for joint punishment of dishonesty in accordance with the law.
Huang Dazhi, a senior researcher at Suning Institute of Finance, said that the integration of online lending institutions into credit information system management is of all-round significance. Firstly, it can improve the construction of credit information system. The online lending platform involves a large number of borrowers and lenders, and is an important component of Internet finance. In part, the access of this part of data can perfectly improve the comprehensiveness of the credit information system data. Secondly, it is conducive to the healthy development and benign exit of the online lending platform. For the continued development of the platform, it can better grasp the borrower’s co-debt information and enhance the level of wind control in operation. For exit platforms, access to lending information is conducive to avoiding borrowers’debt evasion and lazy behavior and protecting lenders’ rights and interests.
There are still ambiguous areas in collection authorization and so on.
It is also good for lenders to incorporate Internet lending institutions into the credit reporting system. In an interview with Beijing Business Daily, a person concerned with internet lending platform said that lenders have strong opinions about failing to report creditworthy borrowers to the credit reporting center, especially “bank credit reporting”. For banks, banks are in the process of lending. It also suffers from the inability to understand the private lending situation of borrowers. The overdue private lending is a major risk, so this double credit reporting is a two-way good for banks and private lending. From the current experience of dealing with the risk of mutual funds, the police assisted in restricting the bank cards of borrowers who maliciously evaded their debts after filing the case, which greatly increased the repayment rate. This report will be submitted to the credit information system in advance, which will effectively curb malicious debt evasion.
Another online lending platform related personages also said that, as an important basis of social credit system, once online lending is incorporated into the central bank credit system, the use of funds and overdue situation of its borrowers will be reflected in the system. If the borrower breaks his promise, he will be restricted by the purchase and sale of houses, transportation, bank loans, which can play a positive and effective role in curbing the malicious evasion of debts and multi-borrowing.
However, we need to pay attention to the fact that the construction of credit reporting system of online credit platform in China has just started, and there are still many barriers. Su Xiaorui, a senior researcher at Bag Research Institute, said that how to standardize the formulation and transmission of various data collected by online lending institutions requires the existing measures of institutions and industries to carry out the benchmarking; a large number of valuable data are deposited in the credit database, and access and utilization needs to formulate corresponding guidelines and thresholds to clarify the corresponding institutions. Responsibility; At present, the relevant personal information data protection laws and regulations of online credit are not perfect, and there are vague zones in the collection of authorization, mining and modeling, etc. Internet credit information needs to be clarified accordingly.
Beijing Business Journal reporter Meng Fanxia, Song Yitong/Wen Songyuan/Cartography