Is orange installment interest legal?

According to the East Second District, in the credit market, in addition to banks, there are consumer finance companies, small loan institutions and various financial technology platforms. Have been affected to varying degrees. For the lending platform, the tightening of cooperation between investors has also brought a lot of trouble.

Take the orange staging of credit consumption platform as an example. Its cooperative Everbright Trust suddenly tightened its cooperation with orange staging on the asset side. Previously, the cooperation between Yunnan Trust and Xiaoxiang Youpin was ordered to be rectified by the Yunnan Supervision Bureau of the China Banking Regulatory Commission, involving outsourcing risk control business and high interest rates.

Accused of "soft" violent collection

According to reports, the main operator of orange staging is Beijing Orange Staging E-Commerce Co., Ltd., which is wholly owned by Liaoning Pilot Free Trade Zone (Yingkou District) Orange Digital Technology Co., Ltd., and Dalian Orange Staging Technology Co., Ltd. (hereinafter referred to as "Orange Staging") is the largest shareholder, and its founder Shi Xiaodong is the actual controller.

It is understood that Orange was established in stages at 20 14, which originated from campus loans and is known as the oldest and largest college student staging mall in Northeast China. Previously, Shi Xiaodong, CEO of orange staging, also said in an interview that the customer groups of orange staging are mainly college students and young white-collar workers.

The customer service said that college students need to provide their own screenshots of Xue Xin and other materials. After placing the order, the operation team will contact and sign the consumption contract and related documents in person. "If it is overdue, a late fee will be charged on a daily basis." This also means that the orange installment only changes the name of the campus loan business and continues to provide related services.

The user said, "Now I am forced to have a nervous breakdown every day, and I also added WeChat friends through my mobile phone number. Moreover, I now find that this interest rate is very high and it is purely usury, so I ask the complaint platform to stop harassing and apologize. "

Loan interest rate "stepping on the red line"

According to Article 26 of the Supreme People's Court's Provisions on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases, the interest rate agreed by both borrowers and lenders shall not exceed 24% per annum, and if the lender requests the borrower to pay interest at the agreed interest rate, the people's court shall support it.

In fact, in the judgment of consumer finance loans, the court judgments of many licensed consumer finance institutions and borrowers show that institutions are not supported to charge borrowers more than 24% interest, penalty interest and liquidated damages.

Referring to case 1, the court said that the interest, overdue penalty interest, loan service fee and account management fee advocated by Shanxi merchants in consumer finance were disguised high-interest charges, and some of them were not protected by the court.

Similarly, in many cases of loan contract disputes between industrial consumer finance and borrowers, the court held that industrial consumer finance had the right to charge the defendant a late fee. Although the plaintiff can claim interest and late payment fee together, the standard of adding the two is obviously too high, so the total interest claimed by the plaintiff is calculated at the annual interest rate of 24%.

It is understood that for orange staging, holding a regional small loan license (Tianjin Huabei Venture Small Loan Co., Ltd.) can operate small loan business in Tianjin. In addition to its own investments and loans, Orange's installment funds also include licensed consumer finance institutions such as Haier Consumer Finance, Yin Chang Consumer Finance and Jin Meixin Consumer Finance.

Judgments issued by several courts show that licensed consumer finance companies (financial institutions) face strict interest rate requirements. The court said that the interest, penalty interest and liquidated damages charged by financial institutions when granting loans should be subject to stricter restrictions, and should not exceed the legal interest rate ceiling of private lending (annual interest rate of 24%), and the excess will not be supported.

The cooperative P2P platform was put on file.

It is worth mentioning that orange staging is also closely related to Tairan Finance, which had planned to go public in the United States, to guide it. According to the prospectus previously submitted by Tairan Finance, it plans to be listed on Nasdaq or NYSE with the stock code "TAI" and plans to raise up to 20 million US dollars.

The prospectus shows that Tairan Financial announced that

20 19, 1 1, Hangzhou Public Security Bureau High-tech Zone (Binjiang) Branch issued a warning notice, saying that 1 1, 2, Zhejiang Xiaotai Technology Co., Ltd. (its "Tairan Finance" platform) had filed an investigation on suspicion of illegally absorbing public deposits.

For orange staging, it has been "hand in hand" with many licensees. In April this year, Shandong International Trust Co., Ltd. (hereinafter referred to as "Shandong Guo Xin", stock code: 0 1697. HK) also issued the "Yirong 34- 1 Collective Fund Trust Plan", and the financing party is orange installment.

According to reports, the trust fund is used to issue trust loans to borrowers (excluding students) who provide oranges in installments, and has been approved by the risk control system of Guo Xin. By the end of 2020 1, the accumulated loan amount of oranges reached 7.825 billion yuan, with 1.827 million loans, with an average loan of about 4,500 yuan.

In addition to direct loan products, orange staging is also guiding a number of cottage cash loan platforms. Recommended platforms include, but are not limited to, Leading Orange Premium, Borrowing Dongfeng, Didi Qian Lai, Vientiane Black Card, Yuxiang Stage, Pudong Development Loan, etc. Among them, Vientiane Black Card needs to pay the membership fee of 99 yuan, and claims that "if it refuses to pay, it will get the highest compensation from 42 yuan".

In the process of capital profit-seeking, whether oranges can become staged winners still needs to wait for the test of time. Similarly, while the scale of lending is expanding, its non-performing scale will inevitably rise. To control the non-performing rate, the collection needs to be further strengthened.

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