UK watchdog warns against "blanket" suspension of credit cards
Share:
LONDON (Reuters) - Credit card firms must review how they treat customers that have been in persistent debt to help them save up to 1.3 billion pounds a year in lower interest charges, Britain's Financial Conduct Authority said on Monday.New rules came into force in March 2018 to help customers that have, over a period of 18 months, paid more in interest, fees and charges than they have repaid on the principal balance on their card.The FCA said in a letter to CEOs of credit card firms on Monday..