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On August 12, penalties disclosed on the website of the China Banking and Insurance Regulatory Commission showed that the Shuangta Rural Credit Cooperative Union in Chaoyang City, Liaoning Province (hereinafter referred to as Shuangta Rural Credit Union) was fined 300,000 yuan for failing to carry out proper due diligence in loan processes. In addition, the Chaoyang Banking and Insurance Regulatory Branch issued 5 individual fines; one of these was imposed on Yang Chunyu, the former president of Shuangta Rural Credit Cooperative. Yang Chunyu was given a warning and fined 50,000 yuan. The date on which the administrative penalty decision was made was August 5, 2020. The penalty imposed by the Chaoyang Banking and Insurance Regulatory Bureau on Shuangta Rural Credit Cooperative indicates that the main violations were inadequate performance of the \"three checks\" required for loans. The administrative penalty imposed was a fine of 300,000 yuan. The “three checks” for loans refer to pre-loan investigation, in-loan review, and post-loan inspection. It enables banks to gain a more comprehensive understanding of the borrower’s business conditions as well as the risks associated with the loan, thereby ensuring the safety of the bank’s credit funds. Yang Chunyu’s individual penalty notice indicates that the main violation was his failure to fulfill his duties in carrying out the necessary \"three checks\" regarding loans issued by Shuangta Rural Credit Cooperative. The administrative penalty imposed by the Chaoyang Banking and Insurance Regulatory Bureau was a warning along with a fine of 50,000 yuan. According to Tianyancha, on February 13 of this year, the person in charge of Shuangta Agricultural Credit Cooperative changed, from Yang Chunyu to Zhang Tao. On August 12, 2015, a fine issued by the former Chaoyang Regulatory Branch to Shuangta Rural Credit Cooperative indicated that Yang Chunyu was the legal representative of that cooperative. The fine order states that Shuangta Rural Credit Cooperative was fined 200,000 yuan for illegally granting loans in serious violation of prudential operating rules. The other 4 individual fines were issued to Zhang Jian, Xu Yi, Wang Xueshen, and Lu Chunfan. The fines imposed on these four individuals indicate that the main violations were their failure to fulfill their duties in carrying out the necessary checks related to loans granted by Shuangta Rural Credit Cooperative. The administrative penalty imposed by the Chaoyang Banking and Insurance Regulatory Bureau was to revoke Zhang Jian’s qualification as a senior management officer for 5 years ； Xu Yi, Wang Xue Shen, and Lu Chunfan were each given a warning and fined 50,000 yuan. Shuangta Rural Credit Cooperative was established on August 29, 1997, with a registered capital of 8.673 million yuan; the current legal representative is Zhang Tao. Since the beginning of this year, 3 branches of Shuangta Credit Cooperative have ceased operations. They are respectively Limin Branch of Shuangta Credit Cooperative, Zhenxing Savings Office, and Beimenwai Savings Office. Responsible editor: Zheng Jingxin Proofreader: Ding Xiao Source: The Paper