Article 70 of the Measures for the Supervision and Administration of Credit Card Business of Commercial Banks

Article 70 of the Measures for the Supervision and Administration of Credit Card Business of Commercial Banks:

Under special circumstances, If it is confirmed that the credit card debt amount exceeds the cardholder's repayment ability and the cardholder is still willing to repay, the card-issuing bank can negotiate with the cardholder on an equal footing to reach a personalized installment repayment agreement. The maximum term of a personalized installment agreement shall not exceed 5 years.

If both parties reach an agreement and sign an installment repayment agreement, the card-issuing bank and its card-issuing business service agency shall stop collecting payments from the cardholder, unless the cardholder fails to fulfill the installment repayment agreement. If an oral repayment agreement is reached, the card-issuing bank must retain the recording materials. The recording data will be retained at least until the date of settlement of the debt.

Measures for the Supervision and Administration of Credit Card Business of Commercial Banks

Chapter 1 General Provisions

Article 1 is to regulate the credit card business of commercial banks and protect the legitimate rights and interests of customers and banks. To promote the healthy and orderly development of the credit card business, in accordance with the "Banking Supervision and Administration Law of the People's Republic of China and the People's Republic of China", the "Law of the People's Republic of China and the People's Republic of China on Commercial Banks", and the "Regulations of the People's Republic of China and the People's Republic of China on the Administration of Foreign-funded Banks" and other laws and regulations to formulate these measures.

Article 2 When operating credit card business, commercial banks shall strictly abide by national laws, regulations, rules and relevant policies and regulations, and follow the principles of equality, voluntariness and good faith.

Article 3 When operating credit card business, commercial banks shall protect the legitimate rights and interests of customers and the security of relevant information in accordance with the law. Relevant information shall not be used for purposes other than the Bank's credit card business without the authorization of the customer.

Article 4 When operating credit card business, commercial banks shall establish and improve credit card business risk management and internal control systems, strictly implement authorization management, and effectively identify, evaluate, monitor and control business risks.

Article 5 When operating credit card business, commercial banks shall fully disclose relevant information to cardholders, reveal business risks, and establish and improve corresponding complaint handling mechanisms.

Article 6 The China Banking Regulatory Commission and its dispatched offices shall supervise and manage the credit card business of commercial banks in accordance with the law.

Chapter 2 Definition and Classification

Article 7 The term “credit card” as mentioned in these Measures refers to a credit card that records the relevant information of the cardholder’s account, has bank credit limit and overdraft functions, and is used to support Various media used by cardholders to provide related banking services.

Article 8 The credit card business referred to in these Measures refers to the banking services provided by commercial banks using bank cards with credit lines and overdraft functions, which mainly include card issuance business and acquiring business.

Article 9 The term “card issuance business” as mentioned in these Measures refers to the relevant banking services that the card-issuing bank contracts with qualified customers to issue credit cards and provides them based on the evaluation results of the customers.

The card issuance business includes marketing and promotion, credit approval, card production and issuance, transaction authorization, transaction processing, transaction monitoring, fund settlement, account processing, dispute handling, value-added services and debt collection.

Article 10 The term “card issuing bank” as mentioned in these Measures refers to a commercial bank that has been approved by the China Banking Regulatory Commission to engage in credit card issuance business and assumes the relevant responsibilities for risk management of the card issuance business.

Article 11 The term “card-issuing business service institutions” as mentioned in these Measures refers to legal entities or other organizations that sign contracts with card-issuing banks to assist them in providing credit card business services.

Article 12 The term “acquiring business” as mentioned in these Measures refers to the services provided by commercial banks to merchants to accept credit cards and complete related fund settlements.

The acquiring business includes merchant qualification review, merchant training, acceptance terminal installation and maintenance management, obtaining transaction authorization, processing transaction information, transaction monitoring, fund advances, fund settlement, dispute handling and value-added services and other business links.

Article 13 The term “acquiring bank” as mentioned in these Measures refers to the bank that provides credit card acquiring business services to specially appointed merchants or provides settlement services for credit card acquiring business in accordance with the contract, and assumes the relevant risk management of the acquiring business. Responsible commercial bank.

Among them, corporate cards are divided into business travel cards and business purchasing cards according to their uses.

Business travel card refers to a credit card that commercial banks sign contracts with government departments, legal entities or other organizations to establish travel expense reimbursement and repayment relationships, and provide daily business expenses and financial reimbursement services to their staff.

Business purchasing card refers to a credit card that commercial banks sign contracts with government departments, legal entities or other organizations to establish procurement expenditure reimbursement and repayment relationships, and provide them with services related to procurement expenditures such as office supplies and office matters. Article 16 The term “students” as mentioned in these Measures refers to students studying full-time in educational institutions. Chapter 3 Business Access Article 17 When a commercial bank applies to open credit card business, it shall meet the following basic conditions:

(1) The company has good corporate governance, the main prudential supervision indicators comply with the relevant regulations of the China Banking Regulatory Commission, and it has the relevant business requirements Develop appropriate organizational structures and rules and regulations, and have sound and effective internal control, risk management and accountability mechanisms;

(2) Have a good reputation and have a complete and effective internal control mechanism and case prevention and control system. The last 3 There were no major violations of laws or regulations or major malignant cases during the year;

(3) Have directors, senior managers and qualified practitioners who meet the qualifications for office. The senior managers shall have at least one person with professional knowledge and management experience in the credit card business, have the necessary technical personnel and management personnel to carry out the credit card business, and fully implement hierarchical authorization management;

(4) Have Business premises, related facilities and necessary information technology resources that are suitable for business operations;

(5) A business system that complies with laws, regulations and business management requirements has been established within the country, and has the ability to protect relevant business system information Technical capabilities for safety and operation quality;

(6) Those who open foreign currency credit card business shall have the foreign exchange settlement and sales business qualifications approved by the foreign exchange administration department of the State Council and the foreign exchange business qualifications approved by the China Banking Regulatory Commission (or foreign exchange business qualifications). Business scope);

(7) Meet other prudential conditions prescribed by the China Banking Regulatory Commission.

Credit Card Management Measures

The "Measures for the Supervision and Administration of Credit Card Business of Commercial Banks" were adopted at the 100th Chairman's Meeting of the China Banking Regulatory Commission on July 22, 2010. It is hereby promulgated and shall come into effect on the date of promulgation.

Measures for the Supervision and Administration of the Credit Card Business of Commercial Banks

General Principles: In order to regulate the credit card business of commercial banks, protect the legitimate rights and interests of customers and banks, and promote the healthy and orderly development of the credit card business, in accordance with the "People's Republic of China These Measures are formulated by laws and regulations such as the Banking Supervision and Administration Law of the People's Republic of China and the People's Republic of China, the Commercial Bank Law of the People's Republic of China and the People's Republic of China, and the Regulations of the People's Republic of China and the People's Republic of China on the Administration of Foreign-funded Banks.

Article 2: When operating credit card business, commercial banks shall strictly abide by national laws, regulations, rules and relevant policies and regulations, and follow the principles of equality, voluntariness and good faith. Article 3: Commercial banks operating credit card business shall protect the legitimate rights and interests of customers and the security of relevant information in accordance with the law. Relevant information shall not be used for purposes other than the Bank's credit card business without the authorization of the customer.

Article 4: Commercial banks operating credit card business shall establish and improve credit card business risk management and internal control systems, strictly implement authorization management, and effectively identify, evaluate, monitor and control business risks. Article 5: Commercial banks operating credit card business shall fully disclose relevant information to cardholders, reveal business risks, and establish and improve corresponding complaint handling mechanisms. Article 6: The China Banking Regulatory Commission and its dispatched offices shall supervise and manage the credit card business of commercial banks in accordance with the law.

1. The term “credit card” as mentioned in these Measures refers to various media that record cardholder account information, have bank credit limit and overdraft functions, and provide cardholders with relevant banking services. Credit card business refers to the banking services provided by commercial banks using bank cards with credit lines and overdraft functions, which mainly includes card issuance business and acquiring business.

2. Credit card overdraft interest will be calculated at a daily interest rate of 0.05% within 15 days from the date of signature or bank accounting, and a daily interest rate of 10% for more than 15 days. If it exceeds 30 days, it will be an overdraft. If the amount exceeds the prescribed limit, daily interest will be calculated at 15%. Overdraft interest is not calculated in stages, but is calculated based on the highest interest rate bracket for the final term or the maximum overdraft amount.

That’s it for the introduction of credit card management regulations.