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changan automobile finance was fined 900,000 yuan: risk control of used car business was not in place

2024-09-22

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it home reported on september 22 that the administrative penalty information disclosure table of the chongqing regulatory bureau of the state financial supervision and administration bureau showed that on september 13, 2024,the chongqing regulatory bureau of the state financial supervision and administration bureau fined changan automobile finance co., ltd. rmb 900,000, warned cao zhi, then general manager of the credit approval department of changan automobile finance co., ltd., and warned xiong xi, then deputy general manager of the marketing business department of changan automobile finance co., ltd.

it home learned from the reference chart that the main illegal and irregular facts of changan automobile finance co., ltd. are: imprudent review of additional loan issuance; infringement of financial consumers' right to independent choice, and illegally transferring its own risk control costs to customers; and inadequate risk control of used car business.

according to information, changan automobile finance co., ltd.'s predecessor, chongqing automobile finance co., ltd., was established in chongqing in 2012 with the approval of the china banking and insurance regulatory commission. in 2016, it completed capital increase and restructuring and changed its name to its current name "changan automobile finance co., ltd.". in 2017, its registered capital increased to 4.77 billion yuan.

it is reported that changan automobile finance co., ltd. currently mainly serves the new car business of changan passenger cars, changan new energy, avita, oshan automobile, kaicheng automobile, changan ford, changan mazda and other brands, covering all provinces, municipalities and autonomous regions across the country except hong kong, macao and taiwan, and mainly provides financial services for automobile dealers and consumers.