Ford Motor's Chinese Finance Unit Fined 300,000 Yuan for Severe Lending Rule Violations

Deep News

07/22

The Shanghai branch of China's National Financial Regulatory Administration has issued a fine against Ford Motor Credit (China) Co., Ltd.

The penalty, amounting to 300,000 yuan, was levied due to the company's severe violations of prudent operating rules in its loan management practices.

In addition to the corporate fine, Hu Xiaoyu, who served as the head of the operations department at Ford Motor Credit (China) at the time of the infractions, received an official warning for the same regulatory breach.

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