河南银行业重拳整顿汽车消费金融：利率设限、高佣金终结

Core Viewpoint - The banking sector in Henan Province is taking measures to regulate the automotive consumer finance market by capping interest rates and addressing the "high interest, high return" practices that have been prevalent [2][5][9]. Group 1: Regulatory Actions - Several banks in Henan, including major state-owned banks and local banks, have issued statements to standardize loan product pricing and control financing costs for car buyers, aiming to eliminate high commission issues [2][4][5]. - The regulatory actions began earlier this year, with a joint notice from financial regulatory authorities encouraging banks to optimize auto loan services and reduce penalties for early loan repayments [4][8]. - As of June 16, multiple banks have collectively announced the cessation of "high interest, high return" practices, indicating a significant shift in the automotive finance landscape [3][6][7]. Group 2: Financial Product Guidelines - The statements from banks specify that the annualized interest rate for consumer loans should not exceed 6%, and the credit card installment fee for five years should be capped at 16% [5][9]. - The guidelines also prohibit car dealers from promoting high-commission financial products and from manipulating consumer loan intentions or terms [5][9]. Group 3: Market Impact - The cessation of "high interest, high return" policies has led to a notable change in the negotiation dynamics for car dealers, making it more challenging to close sales [6][8]. - Some industry participants express support for the regulation, noting that previous commission structures often did not benefit sales personnel significantly, as most commissions were passed on to consumers [8][9]. - The overall aim of these regulatory measures is to create a more rational automotive finance market, enhancing consumer experience and potentially boosting consumer spending in the automotive sector [9].