Shangcheng Consumer Finance was fined 1.6 million yuan for serious violations of prudent operation rules and other misconduct in outsourced debt collection management.

LightningPacketLoss · 2026-03-24T04:43:32+00:00

Shanghai Shangcheng Consumer Finance was fined 1.6 million yuan for multiple serious violations, primarily involving non-compliance in personal loan management and audit aspects, and relevant senior managers were also warned.

LightningPacketLoss

2026-03-24 04:43:32

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On March 23, the Shanghai Regulatory Bureau of the China Banking and Insurance Regulatory Commission disclosed administrative penalty information indicating that Shanghai Shangcheng Consumer Finance Co., Ltd. was fined 1.6 million yuan for the following major violations: serious violations of prudent management rules in personal loan management, performing duties without proper qualification approval, serious violations of prudent management rules in audit management, grossly negligent margin management, and serious violations of prudent management rules in debt collection outsourcing management. Additionally, Qiu Xiaojun, senior senior manager of the direct sales department at Shanghai Shangcheng Consumer Finance Co., Ltd., and Sun Qian, senior senior manager of the risk management department, were both issued warnings.

(China Banking and Insurance Regulatory Commission)

(Editor: Qian Xiaorui)

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