Hundreds of photos and videos of naked women used as collateral for loans on a Chinese online lending service have leaked onto the web, highlighting regulatory problems in the fast-growing peer-to-peer marketplace.
A 10-gigabyte file posted on the internet exposed the personal details of more than 160 young women who were asked to provide the explicit material to secure money through online lending platform Jiedaibao.
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Time For Truth: (Yahoo News) – Naked selfies used as collateral for Chinese loans
South Korea’s biggest shipping group Hanjin is set to enter receivership after its creditors refused to provide further funding to the indebted firm.
Hanjin’s board unanimously agreed to make the court filing at a meeting on Wednesday, a company spokesman said.
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Time For Truth: (10 News) – South Korean shipping giant Hanjin to enter receivership
When most recently reporting on the latest European banking crisis, yesterday we observed a surprising development involving Deutsche Bank, namely the bank’s decision to quietly liquidate some of its shipping loans. As Reuters reported, “Deutsche Bank is looking to sell at least $1 billion of shipping loans to lighten its exposure to the sector whose lenders face closer scrutiny from the European Central Bank.
The Bank of England is to impose new, tougher quality checks on buy-to-let lenders amid worries about a bubble in the property investment market.
The Bank’s Prudential Regulation Authority said it was putting in place a “guardrail” to prevent banks from making dangerous loans, warning that one in five lenders was not carrying out the right checks.