Loan shark sashimi!
FSA to order loan firm Aiful to suspend business over shady operationsMSN-Mainichi—The governmental Financial Services Agency (FSA) plans to order major consumer loan lender Aiful Corp. to suspend business operations at its 1,700 outlets across Japan for failing to provide details on interest on loans to customers…The FSA plans to tell Aiful to suspend operations at five outlets from 20 to 25 days and at all its other outlets for three days…FSA decided to order Aiful to suspend operations at all its outlets because several of them didn’t abide by the legal requirements to provide necessary documents. Furthermore, the FSA learned that Aiful used forceful tactics to collect loans.
Damn.
This ain’t news—Aiful has been a criminal enterprise since day one. All the Japanese loan companies (interest rates above 28%) do not “abide by the legal requirements” and use ” forceful tactics” (yakuza) to collect loans. The loan companies do stunts like contracting with a sound trunk to sit out front of your office to announce you as a dead beat and that your wife will soon be a hooker to pay off your loans.
Now, I guess Aiful will have to reduce their parttime employees like their mascot “Qoo-chan†the chihuahua to make up for their loses as I mentioned before in 3Yen report, Shoot-the-dog strategy continues in Japan Inc
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April 14th, 2006 at 6:28 pm
Dou suru, aiful?(tm)
April 27th, 2006 at 10:48 am
Aiful troubles hit Chihuahua sales, popularity
The Yomiuri Shimbun, April 26, 2006
The popularity of chihuahuas as pets has fallen after major consumer loan company Aiful Corp., which used the breed in its television commercials, was reprimanded for its aggressive loan collection practices earlier this month.
The small dogs attained rock star status almost overnight when the commercials first aired a few years ago and commanded prices of 600,000 yen at the peak of their popularity in 2002 and 2003, according to a major pet shop operator in Tokyo.
Since the Financial Services Agency ordered Aiful to suspend some operations at all its branches on April 14, orders for the dogs at pet shops have started drying up, pet dealers said.
“We sold a female puppy for about 150,000 yen in February, but the price has fallen by up to 20,000 yen after the Aiful news was reported,” said a pet shop owner in Urayasu, Chiba Prefecture. “We used to get orders for white chihuahuas similar to the one in the ads, but not anymore.” …more…