All posts tagged "Consumer rights"
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275EnforcementKorean Tech Giants Told to Comply with Consumer Protection Law
The FSC and FSS have ordered Kakao and Naver to alter or halt the sale of financial products online and register as brokerages by 24 September.
September 15, 2021 -
190ChinaCBIRC Reprimands Fintech Firm for Consumer Rights Violations
The CBIRC said Mashang Consumer Finance violated product pricing rules, consumer rights, and fair trade regulations.
June 17, 2021 -
244ChinaPBOC Issues Guidance on USD Loans Ahead of LIBOR Cessation
Guidance was issued on the terms that should be included in new and old contracts referencing USD LIBOR as well as in new contracts referencing SOFR.
June 3, 2021 -
234ChinaCBIRC Issues Warning Against Improper Sales Practices
In a notice, the CBIRC points to regulatory violations by Ping An Bank in its credit card sales practices which violated the rights and interests of consumers.
May 17, 2021 -
430ChinaChina Regulators Order Tech Firms to Rectify Violations
Thirteen tech firms including Tencent, ByteDance and Baidu’s fintech arm are directed to correct regulatory violations in their financial services businesses.
May 2, 2021 -
234ChinaCBIRC Finds Violations in XW Bank’s Consumer Loans Business
Xiaomi-backed digital bank, XW Bank, breached financial regulations for charging over 30 percent interest on consumer loans.
March 23, 2021 -
328Fintech / RegtechFSC Korea Issues ‘MyData Services’ Guidelines Ahead of August Launch
The guidelines require participating firms to ensure consumers have sufficient awareness of their privacy rights when consenting to data transfers.
February 27, 2021 -
18.0KFintech / RegtechKorea to Launch Virtual Sandbox, Expand Fintech Support
The FSC has outlined the work it has planned this year to promote financial innovation and digital finance.
February 5, 2021 -
148ChinaCBIRC Identifies Consumer Rights Violations at Everbright Bank
Financial institutions are asked to use the case as a reference for improving their own consumer rights protection mechanisms.
February 4, 2021 -
272ChinaPBOC to Enhance Data Protection Rules in Credit Reporting Industry
The PBOC is looking to address inadequate protection of customer data in the credit reporting industry, explicitly prohibiting the abuse of personal and corporate credit information.
January 14, 2021
