What’s new: China Citic Bank Corp. Ltd. said Thursday it has dismissed (link in Chinese) a Shanghai branch president after a high-profile client complained on social media that the bank shared his account’s transaction records to his employer without his permission.
Citic Bank said it apologized to the client, popular stand-up comedian Wang Yuechi, and has punished employees involved in the scandal.
A representative of the China Banking and Insurance Regulatory Commission’s Shanghai branch told Caixin later that day that it had begun investigating the matter.
The background: On Wednesday, Wang said (link in Chinese) on his Weibo account that he was in a legal dispute with his employer Shanghai Xiaoguo Culture Media Co. Ltd. after the company failed to pay his wages on time.
Wang said he was surprised to find his Citic Bank account transaction records in the documents sent by Shanghai Xiaoguo. The allegation soon sparked an uproar on social media over concerns about data privacy and bank account security.
Quick Takes are condensed versions of China-related stories for fast news you can use. To read the full Caixin article in Chinese, click here.
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Contact reporter Tang Ziyi (ziyitang@caixin.com) and editor Gavin Cross (gavincross@caixin.com)
