Subscribe
Logo
Logo
  • Topics Icon Topics
    • AI Icon AI
    • Banking Icon Banking
    • Blockchain/DeFi Icon Blockchain/DeFi
    • Embedded Finance Icon Embedded Finance
    • Fraud/Identity Icon Fraud/Identity
    • Investing Icon Investing
    • Lending Icon Lending
    • Payments Icon Payments
    • Regulation Icon Regulation
    • Startups Icon Startups
  • Podcasts Icon Podcasts
  • Products Icon Products
    • Webinars Icon Webinars
    • White Papers Icon White Papers
  • TechWire Icon TechWire
  • Search
  • Subscribe
Home
Jiedaibao
Latest
  • Latest
  • Oldest
  • Random
  • A to Z

Jiedaibao

Asia/PacNews RoundupOnline Lending
·Feb. 14, 2017

Chinese Investor Suing Operator of Intermediary Lending Platform

Chen Wei accumulated losses of over 489,400 yuan ($71,154) from lending platform Jiedaibao, operated by Renrenxing; the Chinese platform facilitated transactions between borrowers and lenders, allowing lenders to set their own interest rates and manage their own credit lending strategies; Renrenxing managed oversight of the platform including responsibility for collections; Chen's strategy was to borrow from platform lenders at low rates and lend to borrowers at higher rates, benefiting from the difference; Chen initially reported success but then increased borrower defaults led to losses of  over 489,400 yuan ($71,154); Chen was subpoenaed by Jiedaibao for the funds he owed; Jiedaibao later dropped the case but Chen is now suing Renrenxing for the money owed from borrowers; more than 30 users have now filed court cases against Renrenxing for payments totaling over 22.5 million yuan ($3.27 million); new regulations have now been instituted to stop intermediaries from offering protection against losses.  Source

Read Full Story
FinanceNews Roundup
·Oct. 31, 2016

The Rise of Freelance Debt Collectors in China

Jiedaibao, launched by JD Capital, would give people looking to engage in debt recovery all kinds of personal data belonging to overdue debtors, including phone numbers, addresses and even ID card numbers; releasing this kind of information would allow for any freelance debt collector to harass borrowers into paying their overdue amounts; this type of practice in China is not all that unusual as past debt collection efforts have discussed the release of nude photos if payments are missed; the agreement would give the "debt collector" 40% of the debt paid.  Source

Read Full Story

Popular Posts

Today:

  • Stylizedhouse-with-EKGFintech x the One Big Beautiful Bill Jun. 26, 2025
  • PayabliFunded: Payments infrastructure co Payabli lands $28M Series B to AI-ify Jun. 20, 2025
  • GreenliteAI-Alex-WillGreenlite AI is on a mission to revolutionize banking compliance Jun. 10, 2025
  • WP-Funded2Funded: Maze nabs $25M Series A to stop cloud breaches before they start Jun. 13, 2025
  • Email-AI-pieceAvatar CEOs Have Entered the Meeting Jun. 18, 2025
  • Gazing Into the IPO Crystal BallKlarna Now, A Deluge Later? Mar. 20, 2025
  • Vesey Ventures – Julia HuangWhy agentic AI will spark commerce’s next PayPal moment Apr. 10, 2025
  • Ben Hemani, Founding Partner at Bison VenturesThe Risk and Reward of Betting Big on AI’s Next Frontier Jun. 4, 2025
  • Ironclad State of AI ReportThe Economics of AI Trust Jun. 11, 2025
  • TechNexus The AI IssueThe AI Paradox Jun. 18, 2025

This month:

  • WP UmbrellaTo Bank or Not to Bank: The ILC Question Jun. 5, 2025
  • GreenliteAI-Alex-WillGreenlite AI is on a mission to revolutionize banking compliance Jun. 10, 2025
  • Current stablecoin adoptionWhy Banks (and Fintechs) Need to Embrace Stablecoins Today Jun. 12, 2025
  • ai-work-nexusWalkMe Vets Declare War on SaaS Bloat with $10M Seed for Autonomous Agents Jun. 10, 2025
  • Jon StonaTips from Airwallex x McLaren on Making the Best of a Fintech Sponsorship  Jun. 18, 2025
  • Ironclad State of AI ReportThe Economics of AI Trust Jun. 11, 2025
  • Email-AI-pieceAvatar CEOs Have Entered the Meeting Jun. 18, 2025
  • Globe-money-symbolsOPINION: Why Brazil and India are leading the global digital shift through payment innovation Jun. 24, 2025
  • Revised-AI-InvoiceAI Faces Skepticism. Startups Say: OK, Pay When it Works Jun. 25, 2025
  • DanMurphy-FN-headshotCFPB’s Next Open Banking Battle Begins Jun. 3, 2025

  • About
  • Contact
  • Disclaimer
  • Privacy Policy
  • Terms
Subscribe
Copyright © 2025 Fintech Nexus
  • Topics
    • AI
    • Banking
    • Blockchain/DeFi
    • Embedded Finance
    • Fraud/Identity
    • Investing
    • Lending
    • Payments
    • Regulation
    • Startups
  • Podcasts
  • Products
    • Webinars
    • White Papers
  • TechWire
  • Contact Us
Start typing to see results or hit ESC to close
lis digital banking USA Lending Club UK
See all results