Starting from August 1, the "Clear Paper" will replace the "Confusing Account," and many banks will indicate the upper limits of loan interest rates.

On August 1, the "Regulations on the Explicit Comprehensive Financing Costs of Personal Loan Business" officially came into effect. Multiple banks announced the annual comprehensive financing cost limits for normal personal loan performance and made explicit various comprehensive financing costs starting from August 1. This means that bank lending rates will be fully transparent, with a "clear statement" of the loan replacing the previous "confusing account." Industry insiders pointed out that the "Regulations" promote the resolution of issues related to non-standard and opaque information disclosure for personal loan interest and fees, better protecting the legal rights and interests of financial consumers, facilitating the transmission of financial benefit policies, and promoting the standardized and healthy development of the industry.