Caixin
Jul 19, 2022 05:51 AM
FINANCE

Swindled Depositors in Henan Start Getting Their Money Bank

What’s new: Depositors caught up in a massive rural bank scandal started receiving compensation as regulators called for patience to ease public outrage and concerns over systemic risks.

Some savers with deposits of less than 50,000 yuan ($7,400) received compensation starting Friday, Caixin learned. The depositors’ savings at four banks in Henan province and one in neighboring Anhui province were frozen since mid-April, sparking protests and rattling the banking sector.

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