The National Financial Regulatory Administration's Xinyu Supervision Sub-bureau has issued administrative penalties, resulting in a fine of 300,000 yuan for Industrial And Commercial Bank Of China Limited's Xinyu Branch.
The penalty was levied due to violations in processing credit card auto installment loan business and inadequate loan management practices.
Additionally, the bank's Xinyu High-tech Sub-branch was fined 200,000 yuan for its involvement.
Two individuals, Liao Wei and Peng Lijuan, have been issued formal warnings in connection with the regulatory breaches.
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