SHANGHAI -- Protests have broken out in China after several regional banks prevented customers from making withdrawals in late April, stoking fears of a greater credit crisis without an intervention from financial authorities.
Finance
Several Chinese local banks freeze deposits, triggering protests
$1.5bn from 1m customers locked after lenders operated outside their region
About $1.5 billion of customer cash is believed to be in limbo after small, locally focused Chinese banks froze deposits, citing system updates. © Reuters
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