Core Viewpoint - The incident involving the loan intermediary "Xin Xin Hui Lin" has prompted a collective response from multiple banks in Shenzhen, emphasizing the need for consumer awareness against false advertising and the importance of regulatory compliance in the financial sector [1][3][12]. Group 1: Incident Overview - Multiple banks, including Bank of China, Agricultural Bank of China, and others, have publicly distanced themselves from the loan intermediary "Xin Xin Hui Lin," clarifying that there is no partnership and warning consumers about misleading advertisements [1][3]. - As of July 17, a total of 20 banks have issued statements against "Xin Xin Hui Lin," which falsely claimed partnerships with these banks and advertised services such as "interest rate optimization" [3][12]. - "Xin Xin Hui Lin" acknowledged its lack of authorization from banks and stated that it has completed a comprehensive rectification of its advertising practices following warnings from banks and regulatory bodies [1][4]. Group 2: Business Practices and Consumer Risks - The intermediary's advertisements included claims of low-interest rates and partnerships with multiple banks, which were found to be misleading, as the banks confirmed no such collaborations existed [3][4]. - The company offered services that included "debt optimization" and "interest rate reduction," which are not widely endorsed in the financial industry due to potential risks to consumers [9][10]. - Consumers were often charged additional fees for services that were not clearly disclosed, leading to concerns about the transparency of the intermediary's business practices [9][10]. Group 3: Regulatory and Industry Response - The incident has highlighted the ongoing issues with illegal loan intermediaries misrepresenting themselves as banks, prompting regulatory bodies to take action against such practices [12][13]. - Experts suggest that the collective statements from banks serve as a necessary measure for compliance and brand protection, potentially deterring future misconduct by intermediaries [13][14]. - The need for a collaborative approach between regulators and financial institutions is emphasized to establish a monitoring and enforcement mechanism against fraudulent practices in the loan intermediary sector [13][14].

Core Viewpoint - The banking sector is tightening its collaboration with loan intermediaries amid increasing regulatory scrutiny, with several banks publicly denying any association with illegal loan intermediaries, particularly naming "Xin Xin Hui Lin" as a problematic entity [1][2][4]. Group 1: Regulatory Actions - Regulatory authorities, including the Ministry of Public Security and the Financial Regulatory Bureau, have launched a special campaign to combat illegal loan intermediaries and related financial crimes, focusing on four main areas: illegal loan intermediary services, malicious debt evasion, illegal insurance claims, and improper debt collection practices [4][5]. - The Shenzhen Financial Regulatory Bureau has emphasized that addressing illegal loan intermediaries is a key focus of their work [4]. Group 2: Bank Responses - Approximately 15 banks in Shenzhen, including major institutions like Bank of China and Agricultural Bank of China, have issued statements clarifying that they do not collaborate with illegal intermediaries [2][4]. - Banks are enhancing their management of intermediary partners, with some institutions completely halting cooperation with loan intermediaries and conducting strict internal audits to prevent collusion [5][6]. Group 3: Issues with Loan Intermediaries - "Xin Xin Hui Lin" has been accused of misleading marketing practices, claiming to lower loan interest rates from 4.5% to 2.5%, which raises concerns about exaggerated claims [1][8]. - The company has been reported to use aggressive marketing tactics, including misleading advertisements in public spaces, to create the illusion of partnerships with banks [9]. - New trends in the loan intermediary market include the use of fraudulent marketing practices to attract consumers and the manipulation of property valuations to secure excessive loans [10].

Core Viewpoint - A collective response from multiple banks in Shenzhen has emerged against a loan intermediary, Xin Xin Hui Lin, highlighting the risks of false advertising and the importance of consumer awareness in financial transactions [1][4][19]. Group 1: Bank Responses - Major banks including Industrial and Commercial Bank of China, Agricultural Bank of China, and China Bank have issued statements denying any partnership with the intermediary Xin Xin Hui Lin, warning consumers about misleading advertisements claiming cooperation with banks [4][5][19]. - These banks emphasized that they do not charge intermediary fees or any additional costs for loan services, urging consumers to be cautious of claims like "lower interest rates" and "internal approvals" [4][5][20]. - Several other banks, including Citic Bank and Ping An Bank, have also clarified their non-involvement with the intermediary, stating that any unauthorized use of their names for loan services will be legally pursued [5][6][20]. Group 2: Intermediary's Defense - In response to the banks' accusations, Xin Xin Hui Lin claimed that it has no partnerships with any financial institutions and is merely providing consulting services to the community [9][11]. - The intermediary acknowledged past issues but asserted that it has made corrections and is open to supervision, while maintaining that its service fees are clearly stated [11][12]. - Despite its claims of legitimacy, the intermediary's previous marketing efforts suggested partnerships with major banks, raising questions about its current assertions [11][14]. Group 3: Regulatory Context - The collective actions of banks in Shenzhen reflect a broader national trend to combat illegal loan intermediaries, which have been known to exploit consumers through deceptive practices [19][21]. - Regulatory bodies have previously issued warnings about the dangers posed by such intermediaries, advising consumers to verify information and use legitimate channels for financial services [17][21][22]. - Recent initiatives by financial regulators aim to strengthen oversight and crack down on illegal activities in the loan sector, emphasizing the need for consumer vigilance [21][22].