All posts tagged "consumer credit"
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41ChinaAnt Group’s Huabei Starts Reporting Credit Data to PBOC Database
The data-sharing arrangement is part of the rectification measures ordered by financial regulators to break Ant Group's “information monopoly” over data collection.
September 24, 2021 -
97Australia & NZAustralia Commences New Debt Management Licensing Regime
Providers of debt management services including debt negotiation or credit repair services must obtain a credit licence to continue operating.
July 8, 2021 -
534Australia & NZ
Australia to Require Debt Management Firms to Be Licensed
Firms providing debt management services need to apply to ASIC for a credit licence and become a member of AFCA by 30 June 2021.
May 10, 2021 -
357Australia & NZAustralia Delays National Consumer Credit Protection Act Reforms
Whether or not responsible lending obligations are repealed, ASIC says it will enforce lending standards as part of its focus on consumer protection.
March 29, 2021 -
351China
UPDATED – PBOC Says Ant Group Working to Overhaul Business Structure
Ant Group is drawing up a timetable to fold its financial operations into a holding company, under the guidance of regulators.
January 19, 2021 -
191ChinaCBIRC Sets Out New Rating System for Consumer Credit Sector
Consumer finance firms with the lowest ratings will be ordered to submit to a merger, acquisition, reorganisation, or to withdraw from the market.
January 17, 2021 -
493China
Chinese Regulators to Force Ant, Tencent to Share Borrower Data
Ant Group affiliate Alibaba and Tencent have so far been resistant to sharing their loan data with credit databases such as Baihang.
January 15, 2021 -
310Australia & NZAPRA Proposes Potential Changes to Credit Risk Management Standard
Amendments, including an earlier implementation date, will be necessary if the government’s proposed consumer credit reforms are passed as legislation.
December 9, 2020 -
1.2KAustralia & NZ
Australia Prepares to Abolish Responsible Lending Obligations
Lenders will no longer have to assess borrowers' earnings and expenses to determine whether they can afford to repay their debt without hardship.
September 28, 2020 -
812FeatureS. Korea Unveils Details of New Consumer Credit Bill
The bill obliges lenders to offer debt restructuring plans to delinquent borrowers if such a request is made, and places restrictions on the use of debt collection agencies.
September 14, 2020
