UK banks to help pay off card debts

London : Britain's Financial Conduct Authority ordered banks on Tuesday to take steps to help people with persistent credit card debt to keep up with repayments. The new rules will, however, will still allow banks to suspend a credit card if a customer fails to make any progress

Editorial Team Legacy

Published 28 February 2018, 8:00 · Updated 22:00

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London : Britain’s Financial Conduct Authority ordered banks on Tuesday to take steps to help people with persistent credit card debt to keep up with repayments. The new rules will, however, will still allow banks to suspend a credit card if a customer fails to make any progress in repaying debts. The changes are based on a study of 34m credit card customers.

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