Regulator Tightens Oversight of Consumer Lending as Household Debt Booms

China’s banking regulator is tightening its supervision over personal loans amid growing concerns about the surge in household debt.

Since the end of June, local bureaus of the China Banking and Insurance Regulatory Commission (CBIRC) in cities including Shanghai, Shenzhen and Ningbo, and provinces including Yunnan have found at least 13 cases where banks violated rules on the approval of personal loans, including credit card borrowing, according to Caixin calculations based on public records.