Chongqing: suspension of net loan intermediary to carry out "campus loan" business in Colleges and Universities

Chongqing: suspension of net loan intermediary to carry out

Xinhua News Agency, Chongqing, Oct. 20 (Reporter Huang Xing) Chongqing Municipal Government Office recently issued a "Notice on Further Strengthening the Risk Prevention and Management of Unhealthy Internet Loan in Colleges and Universities". At this stage, all Internet loan information intermediaries will be suspended to carry out online loan business for college students, and small loan companies will be prohibited from issuing campus loans. It has been approved to prohibit any organization or individual from entering colleges and universities to publicize and promote credit business and to provide credit services for college students.

The person in charge of Chongqing Finance Office said that colleges and universities should strengthen the monitoring of campus loan information to prevent students from participating in the loan through classrooms, leaflets, Weixin Friends Circle and other forms; strengthen the warning and education guidance of the risk of bad loans on the Internet; and colleges and universities should issue a risk notification of Online loans to each student and sign a confirmation. Finance, public security and other departments will intensify efforts to investigate and deal with unhealthy network loans in Colleges and universities.

At the same time, in order to satisfy the reasonable demand for credit funds and financial services in the aspects of consumption, entrepreneurship and training, the relevant departments in Chongqing will publish a list of legitimate financial institutions for the credit services of college students on a regular basis. The department will also strengthen students'precise financial aid and assistance, strengthen the assistance to students in Colleges and Universities Participating in bad loans, and effectively prevent the occurrence of malignant incidents caused by students' inability to repay loans.

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