Hunan Taojiang Rural Commercial Bank fined 479k yuan for multiple violations

2026-04-05 14:13:48

Blue Whale News April 2 — Recently, the Yiyang branch of the People’s Bank of China announced an administrative penalty notice, targeting Hunan Taojiang Rural Commercial Bank Co., Ltd. and its related responsible persons.

The penalty notice shows that the main illegal and noncompliant facts of Hunan Taojiang Rural Commercial Bank Co., Ltd. include: violating account management regulations, occupying and withholding fiscal funds; violating relevant regulations on the collection, provision, inquiry, and related management of credit information; failing to conduct customer due diligence in accordance with regulations; and failing to report suspicious transactions in accordance with regulations.

In relation to these illegal acts, the Yiyang branch of the People’s Bank of China issued a warning and imposed a fine of 479,000 yuan on it; it imposed a fine of 10,000 yuan on Hu Mou (the Majitang Sub-branch of Hunan Taojiang Rural Commercial Bank Co., Ltd.).

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