Some Local Lenders Unshaken by Credit-Market Quake; While the Era of Easy Cash Has Ended on Wall Street, Many Small Banks Have Money to LendThomas Heath
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Tongguan Co-Op and its parentShaanxi Rural Credit Cooperatives Unionwere hit the hardest by the gold-loan fraud. As of May 2016, Tongguan Co-Op had 8.4 billion yuan of gold loans outstanding, involving 46 tons of fake gold. Large state lenders including the Commercial and In...
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