Ningbo Banking Association Holds Meeting to Promote Halting of "Kickback" Behavior in Housing Loans

The Ningbo Banking Association held a promotion meeting on the "Ningbo Personal Housing Loan Business Self-discipline Convention", with 57 banking institutions within its jurisdiction participating in the meeting. Representatives from 5 banking institutions made statements on the current situation of the business, and how to implement the "Convention" in the future. The "Ningbo Personal Housing Loan Business Self-discipline Convention" regulates the personal housing loan business of banking institutions in terms of implementing the "three checks" for loans, preventing malicious competition, and improving cooperation mechanisms. It particularly focuses on cracking down on the phenomenon of kickbacks between banking institutions and real estate-related organizations and their employees. Once signed by banking institutions, the "Convention" will take effect, officially putting a stop to any form of "kickback" behavior, contributing efforts to prevent "vicious competition."