China’s bad consumer debt cleanup reportedly falters amid debt-collector crackdown
Bloomberg reports that banks have been offloading large volumes of defaulted personal loans to distressed investors, but a crackdown on debt collectors is slowing the effort.
TLDR
Bloomberg reports that China’s crackdown on aggressive debt collection is slowing its cleanup of bad personal loans. Banks have been offloading large volumes of defaulted loans to distressed investors, while the faltering effort is worrying investors.
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