202 1 new policy of principal return

202 1 The new policy of returning the principal is mainly aimed at some high-interest lending platforms using lending platforms for fraud.

The main purpose is to force the problem platform to take the initiative to pay back the money and speed up the payment. Relevant personnel said that these informal lending platforms must return the principal to the victims in full, and may not be paid at a discount. Moreover, in order to ensure that the victim can recover all the defrauded principal and recover the victim's property losses, in addition to severely sentencing the criminals, we must continue to trace the whereabouts of the funds, find out the whereabouts of the funds, and make every effort to recover the stolen funds. All the property of the swindler and his family will be confiscated. These recovered and confiscated assets will not be returned to the state treasury, but will all be returned to the victims, so as to minimize the property losses of the victims. At present, the platforms that have been severely hit are Miao Finance, 58 Car Loan, General Fund Service, Timely Loan and Lian Bi Finance. When applying for a loan on the loan platform, the lender must keep his eyes open, first check whether the loan platform holds a consumer finance license issued by the CBRC, and confirm whether the loan platform is qualified for private lending. If not, the borrower is advised to change the loan platform to avoid more serious consequences. The interest rate of private lending can be appropriately higher than the bank interest rate, and the local people's courts can specifically grasp it according to the actual situation in the region, but the maximum interest rate shall not exceed four times that of similar bank loans, including interest rates. Beyond this limit, the excess interest will not be protected.

legal ground

"Several Opinions of the Supreme People's Court on People's Courts Handling Lending Cases" Article 6 The interest rate of private lending can be appropriately higher than that of banks, and local people's courts can specifically grasp it according to the actual situation in the region, but the maximum shall not exceed four times the interest rate of similar loans of banks, including the interest rate itself. Beyond this limit, the excess interest will not be protected. Article 7 A lender may not include interest in the principal to seek high profits. If it is found during the trial that the creditor included the interest in the principal to calculate compound interest, if the interest rate exceeds the limit stipulated in Article 6, the excess interest will not be protected.