Largest Japanese Consumer Lender Shut Down Temporarily Over Debt Collection

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00019870-largest-japanese-consumer-lender-shut-dow/

Japanese bank watchdog Financial Services Agency on Friday ordered AIFUL Group to close all branches for three days as punishment for intimidation and other unacceptable debt collection tactics, according to Bloomberg. It was the first such shutdown of a listed financial company. AIFUL is Japan’s largest consumer lender.

To read the entire story, please visit Aiful Shares Plunge, Rivals Fall, After Suspension.

To read the response from AIFUL, please see AIFUL’s IR site.