New credit card regulations in 2022

On the 7th, the People's Bank of China, China Banking Regulatory Commission and China issued the Notice on Further Promoting the Standardized and Healthy Development of Credit Card Business to rectify the chaos in the credit card market and effectively protect the legitimate rights and interests of financial consumers. This new regulation will have an important impact on your card opening and use.

Standardize credit card interest charges

There are many kinds of charges for credit card business, including annual fee, handling fee, interest and liquidated damages. In practice, some banks unilaterally publicize low interest rates and low rates, and charge interest in disguise in the name of handling fees, which blurs the actual use cost.

In this regard, the circular requires banking financial institutions to effectively improve the standardization and transparency of credit card interest and expense management, strictly fulfill the obligation to explain interest and expenses in the contract, and show the highest annualized interest rate level in an obvious way.

Staging business is an area with many routines in credit card business. When cardholders use credit cards, they often receive suggestions from banks for repayment in installments. The words "interest free" and "zero interest rate" are exciting. But in fact, banks usually charge a certain fee for installment repayment business.

The Notice requires that banking financial institutions must clearly display all interest items, annualized interest rate levels and interest rate calculation methods that may be generated by installment business on the first page of the installment business contract (agreement). When showing the use cost of funds collected by installment business, interest should be used uniformly, and handling fees should not be used.

At the same time, the notice requires that banking financial institutions should specify the minimum deductible amount and the maximum amount of installment business; Not for the balance of funds to be re-phased; The term of installment payment business shall not exceed 5 years.

In addition to strictly regulating the collection of interest fees, the Notice also explicitly requires banks to continue to take effective measures to actively promote a reasonable decline in credit card interest rates on the premise of legal compliance and effective coverage of risks.

The long-term sleep card ratio shall not exceed 20%.

In recent years, in the rapid development of credit card business, some banks blindly pursue market share, issue cards indiscriminately and repeatedly, resulting in disorderly competition and waste of resources.

The Notice puts forward strict regulations on card issuance management, requiring banking financial institutions not to directly or indirectly take the number of cards issued, the number of customers, market share or market ranking as a single or main assessment index. Strengthen the dynamic monitoring and management of sleep credit cards. Long-term sleep credit cards that have not been actively traded by customers for more than 65,438+08 months and have zero overdraft balance and overpayment in the current period shall not exceed 20% of the total card issued by the institution at any time. Banks exceeding this ratio are not allowed to issue new cards.

"In recent years, many banks have actively transformed into retail business, and credit cards have been widely used as an entry point and focus as an asset business. However, in the process of business development, there has also been a management model that simply uses the number of cards issued and the number of customers as assessment indicators, resulting in business shortcomings. " Ceng Gang, director of Shanghai Finance and Development Laboratory, said.

The person in charge of the relevant departments of the China Banking Regulatory Commission said that in the future, the quota standard for long-term sleep card swiping will be dynamically lowered, and the industry will be constantly urged to reduce the proportion of sleep card swiping to a lower level.

Set the upper limit of the total credit line for a single customer.

Excessive credit granting is also a high-incidence problem in the credit card field. In the face of fierce market competition, increasing the credit line usually becomes a means for banks to compete for customers.

The Notice requires banking financial institutions to reasonably set the upper limit of the total credit line of a single customer and bring it into the unified management of all credit lines of this customer. When approving and adjusting the credit line, the accumulated credit line of customers in other institutions shall be deducted.

Dong Ximiao, chief researcher of Zhilian Finance, said that some cardholders need to pay attention to the problem of "raising cards with cards" and illegally cashing out. Commercial banks should reduce multi-head credit granting, strictly control excessive credit granting and guard against credit card debt risks.

Point to develop online credit card business

The "Notice" has given enough space for credit card business innovation while rectifying the chaos. It is clearly stated that innovative models such as online credit card business will be explored through pilot projects in accordance with the principles of risk control, safety and order.

"The development of online credit card business will become an important attempt for commercial banks to deepen digital transformation and accelerate the deep integration and innovation of finance and technology." Gao Feng, chief information officer of China Banking Association, said that the key link of online credit card business is remote face-to-face signing. It is necessary to screen target customers, support remote video technology and control online business processes.

It is understood that the regulatory authorities will give priority to banking financial institutions with high recognition and trust in serving the people, adequate requirements for consumer rights protection and letters and visits, prudent and strict business philosophy and risk control, and all rectification work reaching regulatory objectives.

Legal basis:

Notice on further promoting the standardized and healthy development of credit card business

First, strengthen the management of credit card business.

(1) Banking financial institutions shall formulate a prudent and steady credit card development strategy, which shall be reviewed and approved by the board of directors or senior management, and be implemented continuously and effectively, evaluated and improved regularly. Banking financial institutions should formulate the annual management objectives and plans of credit cards in strict accordance with the development strategy.

(2) Banking financial institutions should establish a scientific and reasonable credit card business performance evaluation index system and salary payment mechanism. The weight of compliance management indicators and risk management indicators should be significantly higher than other indicators. Banking financial institutions should regularly assess and determine the positions and personnel scope that have an important impact on credit card business risks, and strictly manage deferred payment, recourse and deduction of performance pay.

(3) Banking financial institutions shall strictly implement the credit card asset quality classification standards and identification procedures to comprehensively, accurately and timely reflect the asset risk status. Strengthen the trend analysis of asset quality migration, set risk early warning indicators, continuously and effectively identify, measure, monitor, warn, prevent and dispose of risks, accurately grasp the scale and structure of non-performing assets, and timely dispose and write off according to procedures.

(4) Banking financial institutions should strictly implement the behavior management of employees in credit card business, carry out continuous supervision and regular investigation, supervise the business behaviors of important positions and key personnel in the whole process, establish and improve the accountability and recording mechanism for illegal acts, and effectively monitor, identify, warn and prevent illegal acts of employees in credit card business.

(5) Banking financial institutions shall strengthen compliance training and consumer rights protection training for employees engaged in credit card business, and the total training time per person per year shall not be less than 30 hours.