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3Novices:China bans online lenders from targeting students

Beijing has banned online lenders from extending credit to university students following public outrage over young people falling victim to loan sharks charging exorbitant rates.
Only a limited number of authorised banks are permitted to make loans to students, according to a joint directive by the China Banking Regulatory Commission, the Ministry of Education and the Ministry of Human Resources and Social Security.
China regulators warn that 90 pc of peer-to-peer lenders could fail in 2017…
June 19, 2017 at 05:31AM http://ift.tt/2sq0hA8
#3Novices #News #OnlineMedia #China 3Novices China

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