Comprehensive annualized rate of 35%! Changyin Consumer Finance partnership platform: forcibly charges membership fees in addition to 24%

Why does Changyin Consumer Finance continue to charge high fees in disguised forms even after regulatory clarification?

On October 1, 2025, the “Management Measures for Internet Loan Assistance Business of Commercial Banks” officially took effect, with an annual interest rate of 24% clearly defined as the regulatory red line.

Just recently, on March 15, the State Financial Supervision and Administration Bureau specifically required institutions to disclose clear statements of personal comprehensive interest and fee tables, targeting hidden fee chaos. However, shortly after March 15, Changyin Consumer Finance partnered with loan assistance platforms to covertly charge “membership fees” under the guise of “cutting head interest.” A loan of 4,500 yuan was deducted 376 yuan, with an effective annualized rate of up to 35%. In the context of strict regulatory enforcement, this move is a blatant violation.

Recently, a netizen reported on People’s Daily that on March 17, 2026, they borrowed 4,500 yuan through a third-party platform cooperating with Shaanxi Changyin Consumer Finance Co., Ltd. (referred to as “Changyin Consumer Finance”). The account was deducted 376 yuan in membership fees beyond the 24% annual rate by Tonglian Payment - Yingkou XX Network Technology Co., Ltd. The individual repeatedly tried to negotiate a refund with the platform, but was refused.

According to the netizen, the third-party borrowing platform cooperating with Changyin Consumer Finance allegedly disguised “cutting head interest” through membership fees. Combined with the 24% annualized rate, the overall annualized rate reaches 35%.

Public information shows that Shaanxi Changyin Consumer Finance Co., Ltd. (referred to as “Changyin Consumer Finance”) is a nationwide non-bank financial institution approved by the former China Banking and Insurance Regulatory Commission. It was jointly established by Chang’an Bank (51%), Huixun Tongcheng Leasing (25%), and Yide Chenxiang Investment (24%). It is the 16th such institution nationwide and the first licensed consumer finance company in Northwest China. Its headquarters is in Xi’an, Shaanxi Province, with a registered capital of 1.05 billion yuan.

Starting October 1, 2025, the “Management Measures for Internet Loan Assistance Business of Commercial Banks” (the “New Loan Assistance Regulations”) issued by the National Financial Supervision and Administration Bureau will be officially implemented. The new rules require commercial banks to manage partner institutions through a “white list” and strictly prohibit cooperation with institutions outside the list. Kai Jia Finance noted that just before the official implementation of the “Loan Assistance Regulations,” Changyin Consumer Finance finally disclosed its list of partner institutions on September 29.

According to the disclosed list, Changyin Consumer Finance cooperates with 28 loan assistance institutions (such as Shouma Consumer, Vipshop, Samoyed Data Science, Meiyi Borrow, etc.), 16 guarantee institutions, and 16 collection agencies.

As of press time, Chang’an Bank has not disclosed Changyin Consumer Finance’s 2025 performance. By the end of 2024, Changyin Consumer Finance’s total assets reached 29.971 billion yuan, ranking 13th among 31 licensed consumer finance companies, in the upper-middle range. In 2024, it achieved operating income of 1.815 billion yuan (up 29.64% year-on-year) and net profit of 351 million yuan (up 38.19% year-on-year), ranking 16th and 11th among licensed consumer finance companies, respectively.

Behind the double growth in revenue and profit, complaints related to Changyin Consumer Finance’s internet loan business have also surged. Kai Jia Finance noted that as of March 23, the platform received over 12,000 complaints on Black Cat Platform, with 856 complaints in the past 30 days (averaging over 28 per day).

For example, on March 23, a netizen reported that they borrowed 13,000 yuan and 16,000 yuan from Changyin Consumer Finance. After repaying five installments, they found that 2,900 yuan in consulting fees and 3,600 yuan in membership fees had been deducted. Despite multiple negotiations with XX Huahua Platform and Changyin Consumer Finance, they were refused refunds.

On February 27, another netizen reported borrowing 6,000 yuan from XX Fen, with the loan issued by Changyin Consumer Finance. They were deducted 1,540 yuan in membership fees and requested a refund.

While the company shows impressive performance with increased revenue and profits, the over 12,000 complaints and rising disputes reveal that Changyin Consumer Finance’s slow response to compliance issues not only reflects some licensed institutions’ failure to control their partners but also serves as a warning: in the current environment where the “Loan Assistance Regulations” are in effect, any operation attempting to disguise high-interest loans under the guise of “membership fees” or “consulting fees” will ultimately face regulatory and market scrutiny.