Loan Stacking a Problem in China

A new study has found that borrowers in China are taking out loans from multiple platforms; of 61 online lenders in the study, 44% of their customers borrowed from multiple sources; it is difficult to prevent against this since p2p lenders don’t have access to all of the credit data of their borrowers and there is no centralized place for platforms to share data; the study was done by the Beijing Internet Finance Industry Association. Source