GB/T 42925-2023Internet finance - Online consumer lending - Information disclosure (English PDF)

Foreword

This document complies with the provisions of GB/T 1.1-2020 "Standardization Work Guidelines Part

1.Structure and Drafting Rules of Standardization Documents" Drafting. Please note that some content in this document may be subject to patents. The publisher of this document assumes no responsibility for identifying patents. This document is under the jurisdiction of the National Financial Standardization Technical Committee (SAC/TC180). This document was drafted by: China Internet Finance Association, CITIC Bank Co., Ltd., Sichuan Xinwang Bank Co., Ltd., Beijing Bank Consumer Finance Co., Ltd., China Foreign Economic and Trade Trust Co., Ltd., Ant Technology Group Co., Ltd., Duxiaoman Technology (Beijing) Ltd., Jingdong Technology Holdings Co., Ltd., Beijing Sankuai Technology Co., Ltd., Shanghai Qiyu Information Technology Co., Ltd., Shenzhen Lexin Holdings Co., Ltd., Shenzhen Xiaoying Technology Co., Ltd., Beijing Rong360 Information Technology Co., Ltd., Beijing China Mutual Financial Information Services Ltd., China Mutual Data Technology Co., Ltd. The main drafters of this document. He Hongying, Shen Yifei, Yang Bin, Yue Dan, Chen Yong, Su Li, Guo Xiaoyu, Yang Shuo, Sun Jing, Wang Li, Guan Zhenggang, Sun Tianli, Li Xiumei, He Gang, Peng Yanhua, Li Ying, Zhao Minjing, Peng Jin, Lu Bibo, Zhu Baifan, Li Guiling, Yang Xuhui, Xu Weihua, Wang Yahang, Hu Xiaozhi, Lu Yao, Liao Wenjuan, Chen Peiyao, Huang Jianbin, Tan Tian, Jiang Yufan, Cui Xinxin, Du Lin, Pang Jinfeng, Sun Shengjun, Han Xue, Li Jian, Yu Yuan, Cui Can.

In recent years, based on the characteristics and advantages of big data risk control and process onlineization, personal online consumer credit has been improving credit efficiency and innovating risks. It has played a positive role in improving assessment methods and broadening the coverage of financial services. But at the same time, there is also information disclosure by practitioners in this field. Problems such as insufficient and insufficient risk warnings have caused various disputes. Some organizations use exaggerated or vague propaganda methods to induce It leads consumers to make wrong judgments and infringes upon consumers' legitimate rights and interests such as their right to know, their right to make independent choices, and their right to fair trade. Information disclosure is achieved The important method of "seller must be responsible, buyer beware" is an important measure to protect the rights and interests of financial consumers. The national financial management department targets personal networks has put forward clear requirements for information disclosure in the field of online consumer credit, which is important for standardizing business development and strengthening consumer protection. Want meaning. Due to the temporary lack of detailed requirements for information disclosure in the field of personal online consumer credit, information disclosure by different practitioners has The content, extent and method are inconsistent, making it difficult for consumers to make accurate judgments due to information asymmetry. This document combines the management requirements involved in the field of personal online consumer credit and the actual situation of the industry to provide guidance on the information disclosure behavior of practitioners. Providing specific requirements can provide standard reference for practitioners to carry out information disclosure work, and provide consumers with full access to practitioner information and related information. Business information provides reference, thereby further strengthening the protection of consumer rights and interests and promoting the healthy development of personal online consumer credit standards. Internet finance personal online consumer credit Information disclosure

1 Scope

GB/T 42925-2023 sets the information disclosure requirements for online consumer lending. The complaint that runs through Chinese online credit is not that the loans exist but that the borrower did not know what they were agreeing to: the daily rate looks small, the actual annualised cost is not shown, the lender of record is not the app the borrower is using, and the fees appear at repayment. Regulation has moved steadily towards forcing the annualised rate and the actual lender into view. The standard sets the basic principles of disclosure, the scope of what must be disclosed, and the content - the general requirements, the disclosures required of the institution itself and the disclosures required about the business - with normative annexes listing the practitioner information and the business information to be published. It took effect on 1 December 2023.

This document stipulates the basic principles, scope and content of information disclosure in personal online consumer credit business. This document applies to the public information disclosure to the public by domestic institutions established in accordance with the law to engage in personal online consumer credit business. Disclosure also applies to disclosure of unique information to specific customers. Example

1.Deposit-taking financial institutions, auto finance companies, consumer finance companies, trust companies and small loan companies are all typical companies engaged in personal online consumer credit. Institutions engaged in loan business. Example

2.Personal online consumer credit borrowers are typical specific customers.

2 Normative reference documents

This document has no normative references.

3 Terms and definitions

The following terms and definitions apply to this document.

3.1 Use information and communication technologies such as the Internet and mobile communications, and use the Internet (including mobile Internet) as a channel to provide services within the scope of the business license. The act of providing credit services related to personal consumption to qualified consumers.

Note. Credit services refer to credit-based fund lending services provided by practitioners.

3.2 In the personal online consumer credit business, we work with practitioners in marketing to acquire customers, jointly fund loan issuance, payment settlement, risk sharing, credit Various institutions that cooperate with each other in information technology, overdue collection, etc. Examples. banking financial institutions, insurance companies and other financial institutions and small loan companies, financing guarantee companies, e-commerce companies, non-bank payment institutions, information Non-financial institutions such as technology companies are typical cooperative institutions.

4 Basic principles of information disclosure

Information disclosure follows the following basic principles.

a) Be true, accurate, complete and timely, without false records, misleading statements, major omissions or delays in disclosure.

b) Based on objective facts or objective judgments based on facts, truthfully reflect the objective situation.

c) The language is accurate, concise, rigorous and easy to understand.

d) Use a method that is conducive to consumers' reception and understanding. Interest rates, fees, performance deadlines and methods, precautions, risk warnings, corrections Dispute resolution and other important information related to consumers' vital interests, use fonts, font sizes, colors, symbols that are enough to attract consumers' attention. number, logo, etc. in a conspicuous manner. Depending on the complexity and risk level of the product or service, the key professional skills