trending Market Intelligence /marketintelligence/en/news-insights/trending/3R2_RA-XPZzFR_AjnZQpOQ2 content esgSubNav
In This List

Tokyo government says Line Credit engages in excessive lending

Blog

Global Capital Markets & SPAC Activity – H1 2021

Blog

Banking Essentials Newsletter: July Edition - Part 3

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration


Tokyo government says Line Credit engages in excessive lending

The Tokyo metropolitan government said online lending service LINE Credit Corp. engaged in alleged excessive lending practices, and issued a business improvement order, The Nikkei reported Jan. 21.

Authorities say the Line Corp. unit violated financial regulations by lending 32 customers more than one-third of their annual income, and also failed to collect proof of income certificates from 16 loan recipients.

The metropolitan government ordered Line Credit to submit a business improvement plan by Feb. 26.