Regulatory Alerts2020-09-04
Added · Updated
Enhanced Disclosure Measures in respect of Digital Platforms for the Application of Unsecured Loan and Credit Card Products
The Hong Kong Monetary Authority issued this circular to establish enhanced disclosure measures for authorized institutions offering unsecured loans and credit cards via digital platforms. The guidelines require institutions to ensure that all promotional materials and application processes on these platforms provide clear, accurate, and comprehensive information to consumers. This regulatory update aims to strengthen consumer protection by addressing specific risks associated with digital lending channels and ensuring transparency in product terms.
CIR
Current
Issue Date:
04 Sep 2020
20200904-3-EN.pdf (255.0 KB)
Topic:
Banking Conduct & Enforcement - Consumer Protection
Credit Risk Management - Corporate credit risk management
Credit Risk Management - Retail credit risk management
Group:
All Authorized Institutions
Directly related Document
Cross referenced Document
Version History
Superseded Document
Directly related Document
CIR
Current
29 Aug 2019
Guidelines on Credit Risk Management for Personal Lending Business
CIR
Current
09 May 2018
Credit Risk Management for Personal Lending Business
Directly related Document
CIR
Current
29 Aug 2019
Guidelines on Credit Risk Management for Personal Lending Business
CIR
Current
09 May 2018
Credit Risk Management for Personal Lending Business
Version History
Superseded Document
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