The FSS uncovered a series of abuses by loan companies and debt collectors through inspections conducted in the first quarter of this year.
March 24, 2024One of China’s biggest debt collection firms is considering ceasing operation due to tightening supervision of the industry.
June 1, 2023The new consultation paper covers licensing, financial, governance and conduct requirements for unregulated credit services including BNPL providers.
April 6, 2023Banks and insurers must incorporate consumer protection mechanisms into their corporate governance, culture-building exercises, and business development strategies.
January 5, 2023Debt collectors will have to be screened by police for licensing. Behaviour that threatens the physical safety of debtors will be prohibited.
September 15, 2022Regulated entities must ensure they and their agents do not resort to intimidation or harassment of any kind against any person in their debt collection efforts.
August 16, 2022A 'Consumer Credit Oversight Board' will be established as an independent authority to oversee all consumer credit activities including BNPL under a single umbrella.
August 5, 2022The proposed legislation is aimed at addressing a rise in police reports against debt collectors who "caused alarm and nuisance", the MHA said.
June 21, 2022The government is seeking to prevent and penalise abusive debt collection practices, misrepresentations, and unreasonable terms and conditions.
April 5, 2022The CBIRC’s Beijing bureau warns that concepts such as the metaverse and blockchain are being used to defraud local college students.
March 24, 2022