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Japan Banking Min: Not Changing Rules On Consumer LendingTOKYO (Nikkei/Dow Jones)--Japanese Banking Minister Shizuka Kamei said Wednesday the government has no plans to fundamentally review its legislation on moneylenders that is due to come into effect June 2010, including delaying the implementation of the rule. "The planned new restrictions on interest rates and caps for unsecured loans will not be altered," Kamei told reporters after a cabinet meeting. The Nikkei earlier this month reported that the Japanese government will consider reversing its tightening of regulations on moneylenders, which, under the regulations, have been suffering from massive provisions for overcharged interest repayments and a fall in the number of new accounts. (END) Dow Jones Newswires 11-03-092125ET Copyright (c) 2009 Dow Jones & Company, Inc. |
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