The theme of this year’s 315 gala is to boost consumption, starting with the heart. In on the day of the party, the national market supervision and management of the administration and the central radio and television reception jointly issued initiative, initiative the entity shop operators voluntarily participate in offline shopping “seven days without reason return promise” activities, actively perfect after-sales service system, hopes the store operator action, and commitment to actively, carry out earnestly, to create a safe consumption environment, strengthen the basic role of consumption to the economic development to contribute.
In fact, in addition to offline shopping, the consumer finance industry, which has a stake in many consumers’ wallets, is beginning to implement the initiative.
According to the Daily Financial Report, Henan Zhongyuan Consumer Finance Co., Ltd. (hereinafter referred to as Zhongyuan Consumer Finance) launched the “7-day repayment without any reason” service for first-time borrowers on February 24. It began to introduce the “cooling off period of loan” into the consumer finance industry, which is the first in the industry.
Of course, we have also noticed that many consumer finance companies have launched similar “7-day interest free” activities, but this service has a premise: one is to borrow for 30 days, only the first 7 days of interest free; The other is to give a lower amount to new users, hundreds of dollars, thousands of dollars, there are amount restrictions; Another is coupons that are free for a limited time, more for marketing purposes. The “7-day repayment without any reason” service launched by Zhongyuan Consumer Finance Company means that users can enjoy the right to use the relevant rights and interests for the first time when they borrow money. They can repay in advance within 7 days after the loan without charging any fees, which truly puts the interests of borrowers in the first place.
As is known to all, in the rapid development of consumer loan industry, the behavior of over-induced marketing happens from time to time. Borrowers who find problems with loans can’t cancel them or pay them back in advance, which is harmful to users. Many young people get into debt because of real temptations and personal impulses, so the lending industry needs to be improved and rationalized.
In henan silver protects inspect bureau held yesterday “3 · 15 financial consumer rights and interests protection” special news conference, the central plains consumer company general manager Steven Chou said: ‘loan a cooling-off period since Feb. 24 services, especially the innovation action received extensive attention from all walks of life and, from the point of the effect of implementation, as of March 15, the company for more than 100000 users open the rights “cooling-off period” 7 days, a total of more than 2000 customers to use the rights and interests, accounted for 2.2%, centralized payment does not appear large customer in 7 days “while wool” phenomenon, the service running smoothly. “We have promoted consumption and protected consumers’ rights and interests through small service innovations.”
Cooling-off periods are nothing new in the financial industry, of course. In insurance or private equity, there are usually periods of hesitation, which are required by regulators. During this period, if you do not want to buy, you can apply for a full refund. Lending calm period, and insurance hesitation period, in fact, much the same.
It’s just that buying insurance costs money, while taking out a loan is borrowing money, the latter of which may involve moral hazard, and that someone will get the money for free by borrowing and reneging frequently. This requires a reasonable limit on the number of times the borrower can exercise the right of reneging.
Generally speaking, the move of Zhongyuan Consumer Finance is a beneficial attempt to protect the interests of the lender, which can protect the losses caused by the hasty decisions of consumers on impulse or without knowing much about the products. For advocates of rational lending, a “lending cooling-off period” might be the industry’s match.