Wednesday, May 23, 2018 6:13:20 AM - Markets open
VN-INDEX 985.91 -29.07/-2.86%
HNX-INDEX 116.72 -2.94/-2.46%
UPCOM-INDEX 53.73 -1.05/-1.92%
VPB: FE Credit comes under inspection for wide-scale harassment
http://www.vir.com.vn/ - 5/16/2018 9:59:21 AM
 (0 ratings. You must sign in to rate.)
During the inspection, the agency will look into claims of harassment where FE Credit contacts customers to demand payment for non-existent loans. This is stated by the Banking Supervision Agency in the feedback document for the Ministry of Industry and Trade’s Vietnam Competition Authority (VCA).
 
VCA received many feedbacks and comments from customers related to FE Credit, Vietnam Prosperity Joint Stock Commercial Bank (VPBank)’s wholly-owned subsidiary.
 
Customers complained of receiving phone calls and text messages asking for debt repayment even when they did not borrow from the bank. Some of them have been receiving calls for the last six months, at times ten calls a day. Customers claim this is tantamount to harassment and threatening.
 
“These calls and text messages are currently causing trouble, affecting the daily life and work of the people,” VCA stated.
 
While talking to the media, the communication representative of FE Credit acknowledged that some customers who had not taken up a loan did indeed receive calls and the bank is reviewing feedbacks to fix the issue. The representative said some customers or their relatives might have changed phone numbers or the bank staff could have mistyped numbers.
 
Reacting to customers’ comments, FE Credit said that they are upgrading and reviewing the entire system, and will take steps to discipline the officers violating banking regulations. “When this process is finished, we will report to the State Bank of Vietnam,” added the representative of FE Credit.
 
Earlier, numerous customers have reported becoming debtors of FE Credit after trying a free beauty service at Venessa Co., Ltd. They claimed to be swindled into buying DeAura skin care products and borrowing from FE Credit.
 
23,000 people have been swindled, many of whom are unemployed, freelancers or workers with very low incomes (VND2-3 million, around $100 per month). However, in the loan contract, their incomes were noted to exceed VND10 million ($440) to meet the loan conditions.
 
This shows that FE Credit has deliberately missed credit checks before lending money to customers, which violated the regulations on credit activities. Customers also want the authorities to intervene to clarify and protect them from fraud, as well as prevent the spread of these activities.
 
By Nguyen Huong
 
Read original article here
Newer News
22/05 VIC: Vingroup target 50% profit growth
19/05 Woomi Construction seizes major holding in two real estate developers
19/05 GMD: Gemadept eyes 227% rise in profit
19/05 HVN: Vietnam Airlines plans to build logistics hub in Can Tho city
18/05 MPC: Minh Phu Seafood tries to bring back glory days
18/05 Vingroup property affiliate’s shares listed on southern bourse
16/05 TDH: Daewon Thu Duc House develops $115-million property project in Hanoi
Older News
15/05 LCG: Licogi 16 aims for 110 million USD in consolidated revenue in 2018
14/05 BHN: Habeco requested to pay 1.85 trillion VND in tax liabilities
11/05 HVN: Vietnam Airlines aims to serve 24.3 million passengers in 2018
09/05 VIS: Kyoei Steel’s prospects after Vietnam Italy Steel acquisition
09/05 HPG: Three people died in Hoa Phat steel factory fire
09/05 POW: PV Power Q1 profit up 37%
09/05 GMD: Nam Dinh Vu deep-water port put into use in Hai Phong
09/05 HSG: Hoa Sen group ships largest batch of sheet metal to Europe
05/05 ACV targets over 5.6 trillion VND in 2018 profit
04/05 HSG: Bad performance spells doom for $10.6 billion Hoa Sen Group steel complex?
 
Newsletter Signup
Top Stories
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Draft decree on State monopoly in trade submitted to Government
CPI ups 0.46% in January
Market Update
Last updated at 3:11:03 PM
VN-INDEX 985.91 -29.07/-2.86%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.