(Bloomberg) — China’s financial regulators plan to cap the interest rates Ant Group can charge borrowers on quick consumer loans, a move that could curb the financial technology giant’s biggest revenue driver as it prepares for a mega initial public offering.Loans made by Ant Group and other consumer lenders will be subject to a ceiling imposed by a China Supreme Court ruling last month, said people familiar with the plans, who asked not to be named as the information is private. Linked to a benchmark rate, the cap is currently 15.4%. The court said the rule doesn’t apply to licensed …read more
Source:: Yahoo Finance
