The regulation requiring explicit disclosure of personal loan financing costs is set to be implemented soon, and a number of institutions have completed their compliance arrangements in advance.

The "Regulations on the Explicit Disclosure of Comprehensive Financing Costs for Personal Loan Business" will come into effect on August 1. Relevant institutions are accelerating system transformation and improving agreement texts. Reporters' investigation shows that some commercial banks and consumer finance companies have released plans for explicitly disclosing loan costs and launched relevant processes for explicit disclosure of comprehensive financing costs, and some loan assistance institutions are also exploring new cooperation modes with lending institutions to adapt to the requirements of the new regulatory rules. (China Securities Journal)