Bank President “Relieving the limit on fund subscription per month after loan”… Authority “review for improvement” (comprehensive)

Authorities also acknowledged “need to distinguish between breaking and voluntary membership”

Chairman Seong-soo Eun-Bank President Discussed at the Gold Law Conference

(Seoul = Yonhap News) Banking Team = In order to hear opinions about the confusion caused by the enforcement of the Financial Consumer Protection Act (Money Soo Act), some opinions from the meeting with the heads of the banks meant’I will improve after review’. Revealed.

Representatively, when a customer is required to sign up for the point that’the fact that a bank that received a household loan cannot subscribe to other products such as funds or bancassurance for a month before and after the loan limits the customer’s option to voluntarily join’ It was decided to review so that it could be classified and accepted.

In addition, due to the reinforcement of explanation obligations, bank clerks read the product-related details to customers, which extended the subscription time. “The Financial Services Commission said, “You don’t have to read all the manuals,” but the responsibility is unclear and it is not reflected on the spot.” When the criticism came out, the authorities decided to create and provide detailed guides for core product descriptions.

◇ On-site “The bank manager quits after 2-3 years, but we have to take responsibility… different specific guidelines”

According to the financial sector on the 4th, bank heads raised specific inconveniences and measures to improve at a meeting with CEOs of nine banks to hear opinions about the confusion after the enforcement of the Financial Supervisory Service, along with the vice president of the Financial Supervisory Service on the 1st.

First of all, the bank managers suggested that there was a problem that restrictions on subscriptions to other products such as funds and bancassurance occurred for one month before and after a customer received a loan from a bank because the binding regulations to prevent’breaking’ were so strict. did. In response, the Financial Services Commission replied, “Because you need real customers, you need to distinguish between signing up and binding sales. I will review this part.” If a customer voluntarily intends to sign up for a product, such as a fund, if necessary, it has indicated that it will consider ways to differentiate and allow it.

“If the monthly payment exceeds 1% of the loan amount, it is a binding sale. Because of this regulation, customers who want to voluntarily subscribe to products such as funds after the loan are limited, so it needs to be relaxed.” Pointed out.

In order to prevent the so-called “breaking” practice of financial institutions that recommends purchasing funds and insurance products using loans as a pretext, the bank extended the inspection targets for binding sales activities of investment and guarantee products to “all debtors”. The sale of investment and insurance products such as funds and bancassurance for one month before and after the loan execution date was virtually prohibited.

Regarding this, an official from the Financial Services Commission pointed out, “Although funds can be sold with less than 1% of the loan amount, the banknotes were overreacted and decided not to sell products such as funds at all within one month before and after the loan.” “I urge you to refrain from overreacting to the regulation that considers the banknote to be a 1% betrayal,” he said.

He added, “We cannot abolish the ‘1% regulation’, which expanded to investment products due to fund crisis such as DLF, but we will carefully and carefully examine whether there is a way to filter out fund sales, etc., rather than breakdown.” did.

At the meeting, the bank chiefs said that the time to sign up for a product was prolonged due to the strengthening of the explanation obligation, which does not mean that the financial authorities should read all the manuals. It was also pointed out that it is not sufficient to inform the consumer that it is possible to exclude items that indicate that they do not need an explanation. They ask for specific guidelines, such as at least how far they should be read.

The bank managers complained, “I can’t do that because I’m scared if I want to keep things simpler in the field,” and demanded,’Issuing and explaining key instructions only when absolutely necessary.’ In response, the Financial Services Commission said, “I will review.”

One bank president said, “The chief executive quits after 2-3 years, but the employees have to work for several decades, but if they are punished for not keeping it properly, it is a big obstacle, so they cannot keep everything from one to ten.” I was informed by the suggested Q&A, but when audited or when problems arise, I heard that I cannot trust all of the Q&A on the parts that are not legally clear,” he said. “Because of this, the burden or amount of work such as printouts or explanation obligations “It doesn’t decrease,” he pointed out.

◇ “What is the exact deadline for the right to terminate an illegal contract?”… Bank chiefs’ suggestions and requests poured out

Regarding the’right to terminate illegal contracts’ introduced by the enforcement of the Financial Law on that day, bank heads said, “The period in which the financial company must decide whether to accept it and notify the customer is’within 10 days’, but it is too short.” There was also a suggestion to set a realistic deadline such as’.

Some bank heads pointed out that the law required the creation of new organizations and executives related to’consumer protection internal control’, but pointed out that they overlapped with the’compliance officers’ operated by banks, and asked to differentiate the roles of how the two are different. .

Regarding the problem that the customer consultation time is taking too long since the enforcement of the law, a bank manager said,’To reduce the waiting time, we are planning to separate the general transaction window (quick window) and the window that requires professional consultation.’ Upon introduction, the Financial Services Commission replied that it was a “good idea.”

An official from a banking sector said, “I know that the idea of ​​separating deposits and fund sign-up windows among banks to reduce customer waiting time.”

Participants reported that the Financial Services Commission requested that bank CEOs take good care of the money law because the money law is to protect customers from incomplete sales.

After the enforcement of the Prohibition Act, it was reported that he was also asked to refrain from mentioning related contents to the media, as if he felt burdened by the media reports, which were mainly negative contents.

In addition, the Financial Supervisory Service stated, “I gave the guidance period until September, but until then, even if the inspection is conducted, it will be done in a large frame and I will not discipline details. It is said that he asked for active efforts to settle down.

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2021/04/04 11:40 sent