NH NongHyup Bank Conducts On-Site Internal Controls Checks to Prevent Mis-Selling

Park Jang-soon, executive vice president for financial consumer protection at NH NongHyup Bank, briefs staff on a service counter for vulnerable customers during a visit to the South Chungcheong business office on March 20. [Photo: NH NongHyup Bank]

NH NongHyup Bank said March 22 it conducted on-site internal controls inspections to prevent consumer harm from mis-selling and to promote sound sales practices.

Park Jang-soon, the bank’s executive vice president for financial consumer protection, visited the South Chungcheong business office on March 20 to assess whether consumer-protection internal controls were being carried out and how they were operating.

The inspection focused on compliance with the Financial Consumer Protection Act and on the bank’s management system designed to prevent the incomplete sale of financial products. Park also checked whether the office had protection measures and response procedures for vulnerable customers, including older adults, people with disabilities and pregnant women.

“This inspection served as an opportunity to further strengthen internal controls at branches,” Park said. “We will continue to step up financial consumer protection to remain a financial institution that always earns customers’ trust.”

* This article has been translated by AI.

Kim yoon seop angks678@ajunews.com