Chinese companies creating P2P’s for house downpayments
In China, you need 30% for a down payment, which, based on the North American experience of late, has some merit. But when you have to borrow for the down payment, you may be in trouble. Read a report here.
The Royal Bank of Scotland is planning on partnering with another platform to enter the P2P market next year. Read the release here.
Citigroup reducing global presence
Citigroup is but one major US bank retreating from other countries. They say it is because of low profitability and shareholder impatience, but others contend its because of increased regulatory scrutiny. Martin Arnold and Camilla Hall investigate.