When banks in Henan Province refused to let people access their deposits, large-scale protests broke out in July. The local authorities responded with plans to repay those with frozen accounts in rural banks. The reimbursements reportedly entered a third stage on Aug. 1. However, one protester revealed that the first two rounds of repayments weren’t…
Hundreds of Chinese Depositors Assaulted by Plainclothes for Protesting Their Frozen Accounts
Hundreds of bank customers in central China were beaten and dispersed by plainclothes police, in the presence of uniformed officers, for protesting the freezing of their accounts in a regional bank that hadn’t provided a credible explanation for disallowing them to access their funds. On May 23, a group of protesters rallied in front of…
Millions of Chinese Customers Unable to Access Their Bank Deposits
Millions of Chinese bank customers have not been able to access their deposits for more than a month. While the Chinese bank regulator claimed that its investigation found illegal wealth collecting activities involving a major shareholder and a third party platform, customers believe the regulator failed to safeguard people’s interest in the first place. On…
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