The Financial Services Agency said Friday it has ordered consumer finance firm Aiful Corp. to suspend most operations at its 1,700 outlets for three to 25 days over the use of strong-arm collection tactics.
It is the first time the FSA has ordered a complete shutdown on a major consumer finance firm.
The FSA ordered a 25-day suspension beginning May 8 for three outlets in Hokkaido, Shiga and Ehime prefectures, and 20 days for two outlets in Nagasaki and Fukuoka Prefectures. The remaining outlets, including 1,126 automated units, must be suspended for three days.