Violent collection of usury rampant anger regulation cash loan Fengyuyulai rectification

2014-11-10

The cash loan, which is popular in the capital market, first appeared in the documents of the clean up and rectification of the CBRC.

Days ago, the CBRC official website issued "guidance Chinese China Banking Regulatory Commission on banking risk prevention and control work" (hereinafter referred to as "guidance"), the requirements of good cash loan business activities of the rectification work, fraud, false propaganda is prohibited, not illegal Gregory lending and collection of violence.

With the development of financial science and technology FinTech technology, cash loan capital market to become the darling of usury, but violent collection, reselling the information does not sound and ear, to ensure the financial industry risk, to prevent systemic risk under the background of cash loan industry ushered in the rectification storm.

"Chinese business newspaper" the reporter interviewed a number of cash loan industry practitioners generally believe that regulation will make the industry more regular and orderly, also make the overall profit rate of return from before the disorder profits to a reasonable range, which will reduce the new industry participants, so before the status of effective control of dragons and fishes jumbled together. From the industry's reputation and industry competition, this is a good news for the "cash loan" giants.

High fees expedites the invisible "usury"

Cash loan platforms such as "low loan threshold", "quick arrival", "high interest rate", "hidden interest, bright eyesight" and "overdue violence collection" have the above common characteristics. Under these commonalities, the boundaries between cash loan platform and usury platform are blurred.

Cash loan default industry, with high interest rates to lend provisions and the service fee terms, these terms have been controversial, high debt service costs, so increasing the cost of borrowing its way, will lead to limit cash loan products and usury fuzzy.

The reporter has previously investigated a cash loan platform to know that the loan is more than 20 thousand yuan, and the actual amount of repayment is close to 60 thousand yuan. The borrowers apply for a loan after the contract shows the annual interest is 24%, but the loan before the loan after consulting fees, management fees, service fees and other fees add up to pay the cost of borrowing more than actual lending scale, only an information service fee is more than the actual size of the loan obtained.

Insiders told reporters, "cash loan platform commonly used" high interest + fee "to cover bad debts and operating costs in the industry means of risk control and credit data acquisition are identical, reduce a few points of bad debts is very difficult, most of the path of the most simple, high cost of borrowing, interest + high fees."

According to the open data reported by the media, up to now, the average annual interest rate of the cash loan industry is 158%, which is more than the 36% annual interest rate protected by the law.

At the same time, cash loan platform target customers are secondary bank customers, the students and the city of low-income persons, in the high cost of borrowing, when borrowers in repayment difficulties, appears overdue loans and bad debts, collecting overdue management fees, will lead to a violent collection phenomenon, had a number of media reports of violence the collection of social events.

Net loan home CEO Tian Weiying believes that many companies currently engaged in cash loan business is engaged in financial business, in business operation, long loan, risk control ability, organization level is uneven, through the Internet to increase leverage will increase the risk of accumulation, risk and the existing stock of business and new business, regulatory sooner rather than later.

At the same time, some scholars believe that the cash loan of the supervision layer is related to the financial risk of prevention and control proposed by the Central Committee.

Central University of Finance and Economics Chinese Internet Economic Research Institute Vice President Ouyang Rihui told reporters that the work of the central economic work conference last year, this year's economic layout, clear requirements: the need to prevent and control financial risks to a more important position, determined the disposal of a number of risk points, a force of prevention and control of asset bubbles, to enhance and improve the supervision ability, ensure that the system does not occur financial risk. Therefore, the CBRC cleaning and rectifying the cash loan is the continuation of the special governance of the Internet finance, and also the demand for the economic work layout of the Central Committee in 2017.

"Cash loan" industry or "brakes"

For industry participants, the interest rate adjustment is the biggest impact on it, and the rapid development of the cash loan industry may face "brakes".

Cash loan industry is developing rapidly in the past year, according to estimates of earnings can consult, the current industry scale of about 600 billion yuan to 1 trillion yuan, of which electricity supplier cash loan scale in 500 billion yuan, and vertical net loan cash loan scale in 100 billion yuan, and the licensed department in the size of 400 billion yuan the following.

And the majority of the participants are highly favored by the capital market. According to the reporter's incomplete statistics, currently the main body of the cash loan business involves banks, Consumer Finance Companies and network loan platform. There are nearly 1000 platforms for engaging in cash loan business. Nearly 100 cash loan platforms have been invested in the B round.

Insiders told reporters, "cash loan industry is developing rapidly because the industry has high profit, bad debts do not exceed 50% can make money, but this is based on the collection of more than 100% of the borrower borrowing costs, if in accordance with the guidance provided strictly controlled within 36%, platform on risk control under the great Kung Fu, and improve loan threshold, it also improves the operating costs of the platform in disguise."

After the introduction of the guidance, the industry will face a variety of variables.

Murray financial official told reporters that the "guidance" for the supervision of a cash loan, can be a strong deterrent and regulate practitioners, strict selection of the borrower in the business, strictly implement the relevant provisions of the Supreme People's Court on private lending rate etc.. On the other hand, in the context of the influx of a large number of capital and entrepreneurial platform into the consumer finance industry, it is to urge the development of the industry to return to rationality and to cool the industry.

Tian Weiying believes that the regulation is not a cash loan, but a normative industry. The future cash loan business will continue to develop rapidly, and the growth of scale will not slow down. Some institutions will be affected and even eliminated. However, the scale of the whole business will not be affected, and the growth of business will not be greatly affected. There will be some "tug" phenomenon in the industry, and self regulatory organizations such as alliances or associations will be established to solve the common problems of the industry.



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