Legal basis: Interim Measures for the Administration of Online Loans of Commercial Banks Article 64 If a commercial bank handles online loans in violation of these measures, the banking regulatory agency may order it to make corrections within a time limit in accordance with the Banking Regulatory Law of the People's Republic of China; If it fails to make corrections within the time limit, or if its behavior seriously endangers the steady operation of commercial banks and damages the legitimate rights and interests of customers, it shall take corresponding regulatory measures. In case of serious violation of these measures, administrative penalties may be imposed according to the provisions of Articles 45, 46, 47 and 48 of the Banking Supervision Law of the People's Republic of China.
Article 47 of the Banking Law of People's Republic of China (PRC) * * * Commercial banks shall not raise or lower interest rates in violation of regulations or take other improper means to absorb deposits and issue loans.