Financial Regulatory Administration Reminder: Use Installment Plans Rationally to Avoid "Traps" and Be Wary of Misleading Bundle Charges

Gelonghui March 13 — According to the National Financial Regulatory Administration, recently some online shopping malls have been inducing consumers to apply for loans under the guise of installment payments, buyback programs, and other methods, leading to numerous consumer disputes. To effectively protect consumers’ legal rights and interests, the Financial Consumer Rights Complaint Mediation Center of the National Financial Regulatory Administration, the China Consumers Association, and the China Internet Finance Association jointly issued a risk warning, reminding consumers to be cautious of payment inducements and high financing cost traps, and to enhance their ability to identify risks and prevent fraud.