It is the first time the FSA has ordered a complete shutdown of 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.

During the suspension period, Aiful, based in Kyoto Prefecture, will be allowed to remain open so customers can make loan payments on a voluntary basis and to continue legal procedures to seize properties. But it will not allow the firm to offer new loans or collect on debts.

The Japan Times Weekly: April 22, 2006
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