Liaoning Rural Commercial Bank Authorized to Launch Credit Card Acquiring Services

Deep News

04/27

On April 27, financial authorities announced that the Liaoning Financial Regulatory Bureau has issued an approval for Liaoning Rural Commercial Bank Co., Ltd. to commence credit card acquiring services. The bank is also authorized to take over the existing business from various legal entities previously under the former Liaoning Rural Credit system.

The Liaoning Financial Regulatory Bureau emphasized that the bank must strictly adhere to relevant regulations, including the "Supervisory Measures for Commercial Bank Credit Card Business," when operating the credit card acquiring services. It is required to strengthen the management of these services and effectively prevent and control associated risks. The bank must also regularly report its credit card acquiring business operations and management status to the regulatory bureau.

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The bank is also authorized to take over the existing business from various legal entities previously under the former Liaoning Rural Credit system.</p>\n<p>The Liaoning Financial Regulatory Bureau emphasized that the bank must strictly adhere to relevant regulations, including the \"Supervisory Measures for Commercial Bank Credit Card Business,\" when operating the credit card acquiring services. It is required to strengthen the management of these services and effectively prevent and control associated risks. 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