All posts tagged "consumer credit"
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351Australia & NZNew Responsible Lending Laws Take Effect in New Zealand
The new law requires lenders to act responsibly at all times. They can be forced to refund interest, fees and damages for failing to do so.
December 1, 2021 -
427MalaysiaMalaysia to Enact New Consumer Credit Act in 2022 – Reports
The Consumer Credit Act will provide a regulatory framework for the issuance of consumer credit and strengthen oversight of non-bank credit providers.
November 18, 2021 -
404ChinaPBOC Vows to Fill Gaps in FinTech Regulation
Governor Yi Gang says the PBOC will continue to strengthen its supervision of fintech companies, while also improving policy transparency and predictability.
October 15, 2021 -
275ChinaAnt 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 -
143Australia & 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 -
584Australia & 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 -
418Australia & 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Whether or not responsible lending obligations are repealed, ASIC says it will enforce lending standards as part of its focus on consumer protection.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 -
387China
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 -
234ChinaCBIRC 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 -
540China
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
