At the end of February, the official website of the Heilongjiang Banking Association released the "Heilongjiang Province Banking Industry Credit Card Self-Discipline Convention". This is another local banking association after the Ningbo Banking Association launched the "Self-discipline Convention" for the credit card business last year. The self-regulatory management guidance document for the credit card industry released was jointly signed by 33 credit card issuing banks within the association in Heilongjiang Province.
The fourth chapter of the "Self-Discipline Convention" proposes 40 self-discipline clauses in five aspects: marketing and promotion of credit card business, card issuance and credit extension, publicity and collection, and complaint handling. The purpose is to protect the common interests of industry members and ensure the healthy development of the credit card business. This convention joins the content of the "Notice on Further Promoting the Standardized and Healthy Development of the Credit Card Business (Draft for Comments)" issued by the China Banking and Insurance Regulatory Commission at the end of 2021, and also plays a role in industry self-discipline and regulation.
The "Self-Discipline Covenant" reminds customers not to promise card issuance and credit limits, to be transparent about customer related fees, not to make false propaganda in marketing, not to leak customer information, not to induce customers to apply for cards in fraudulent ways, and the credit limit must be Refer to the total personal credit limit, strictly control the flow of credit card funds to control areas, and provide public information reminder services. In the self-discipline convention for collection business, it is emphasized to strictly implement the normative provisions for credit card collection in the "Notice on Issuing the Guidelines for Credit Card Collection Work (Trial) of the China Banking Association" issued by the China Banking Association.
The "Self-Discipline Convention" specifically clarifies the establishment of an information sharing mechanism among member banks, and jointly cracks down on debtors who use excessive complaints and other means to achieve the purpose of evading debts. Malicious fabrication of facts Complaints and unreasonable troubles can be reported to the public security organs for handling. This was not mentioned in the "Self-Discipline Convention" issued by the local banking associations before, and it also shows that supervision openly expresses its attitude of severely cracking down on the illegal claims of such debtors.
Credit cards serve the public, improve financial convenience and accessibility, and provide customers with financial value-added services, effectively assisting and promoting the development of people's livelihood areas. But at the same time, in economically developed cities and regions, the credit card market has been highly saturated, which has also led to increasingly fierce competition among card-issuing banks. The conflicts and conflicts of interest among all parties are very prominent. There is a phenomenon of excessive credit granting in credit cards to compete for market share, which is certain. To a certain extent, it limits the healthy and sustainable development of the industry.
In order to promote the standardized and healthy development of credit card business in the province, the Heilongjiang Bank Association maintains a fair and orderly operating environment in the credit card market, strengthens self-discipline management and mutual supervision, and protects the interests of the public, customer interests and the industry. interests, in accordance with relevant national laws, regulations and regulatory requirements, combined with the actual situation of credit card business, the "Self-Discipline Convention" was formulated through consultation with members of the Heilongjiang Provincial Banking Association.
In 2009, when the Bank Card Professional Committee of the China Banking Association was established, 20 member units of the Bank Card Professional Committee *** signed the "China Bank Card Industry Self-Discipline Convention" and advocated operating in compliance with laws and regulations , resist unfair competition, prevent business risks, and protect customer interests. This is the first time that the banking industry has made self-regulatory regulations on bank card business, and it is also a solemn commitment made by the banking industry to the public.
In 2013, in order to comprehensively improve the level of bank card services, the Bank Card Professional Committee of the China Banking Association fully adopted the opinions of relevant parties on the basis of extensively listening to the opinions of cardholders, regulatory authorities and all parties in the industry. Based on the opinions and suggestions, the China Bank Card Industry Self-Discipline Convention has been revised for several rounds, focusing on strengthening information disclosure and establishing a tolerance and time repayment mechanism. On July 1, 2013, the new version of the "China Bank Card Industry Self-Discipline Convention" was officially implemented.
In 2017, the China Banking Association issued the "Self-discipline Convention on Market-Based Interest Rates for Credit Card Business", which aims to manage pricing including credit card overdraft interest rates, overpayment interest rates, liquidated damages, etc. It advocates member units to implement national macro policies, assume social responsibilities, operate in compliance with laws and regulations, prevent price risks, maintain good market competition order, and promote the healthy and sustainable development of the credit card market.
Regarding the interest calculation method caused by the incomplete repayment of credit cards, there have always been two opinions in the society. One is the method that users want to calculate interest on the unpaid part, and the other is the method that users want to calculate interest on the unpaid part. The full interest calculation method generally followed by banks. These two methods also create certain conflicts between banks and users.
In the "tolerance" mechanism established in 2013, if the cardholder has insufficient repayment in the current period, and the unpaid portion of the account after the due payment date is less than or equal to a certain amount (at least equal to value of RMB 10), it shall be regarded as full repayment by the cardholder, and this part of the outstanding amount will automatically be transferred to the next bill. However, there is a lack of unified standards among various banks for the scale of this tolerance amount.
Due to changes in the times, many past rules need to be repositioned. You can consider combining interest calculation methods with tolerance services. Set a ratio for the repayment amount. Under the ratio, you can adopt " This method also expands the "tolerance" space in disguise, and also eases the conflict between banks and users.
For example, if it is set to 10, that is, if the repayment amount on the repayment date is equal to or exceeds 90% of the amount that should be repaid, interest will be calculated based on the unpaid amount, and the interest-bearing part will only be the highest 10% of the total amount; if it is returned If the amount is less than 90% of the repayment amount, interest will be calculated on the full amount. This is also equivalent to appropriately enlarging the "tolerance" amount.
The "Self-Discipline Convention" is a joint management contract in industry self-regulatory management activities. It has legal effect among industry self-regulatory management organizations and their members. The industry self-discipline convention should establish a disciplinary committee with a disciplinary committee as the carrier. Mechanism, and there should be corresponding disciplinary measures if members violate the rules. This includes ordering them to make corrections, and taking self-regulatory management measures such as warning interviews, issuing warning letters, public notifications of criticism, mandatory training and education, and public condemnation.
With the rapid development of China's credit card business in recent years, various risks have emerged in many aspects such as risk approval, issuance and use, acceptance by acquirers and merchants, and transaction clearing. Moreover, the lag in credit card-related laws means that the main responsibilities, rights and obligations of all parties involved in the credit card business lack specific legal provisions, as well as systematic and standardized management.
At present, no matter from the perspective of policy, public opinion, etc., there is too one-sided emphasis on the security obligations and related responsibilities of card-issuing banks towards cardholders. However, there is a lack of protection against irrational overdraft consumption of cardholders and "using cards to support them". "Card", "repaying a loan with a loan", and the use of excessive complaints and other means to achieve the purpose of evading debts have restrained the behavior of the issuing bank, which has dampened the enthusiasm of the card-issuing bank in handling legitimate business complaints and is not conducive to the effective protection of the legitimate rights and interests of legitimate cardholders. It is not conducive to the long-term healthy development of the industry.
Therefore, under the condition that the credit card business is lacking in the construction of laws, regulations and systems, the local regulatory agencies have issued the "Self-Discipline Convention" for the credit card industry, which has played a positive role in promoting the healthy operation and development of the local credit card business. .