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BRIEF-Britain's financial regulator FCA proposes new rules for credit card firms
April 3, 2017 / 6:20 AM / 6 months ago

BRIEF-Britain's financial regulator FCA proposes new rules for credit card firms

April 3 (Reuters) -

* Britain’s FCA proposes new rules for credit card firms to help millions of customers get out of persistent debt

* Britain’s FCA: if a customer is still in persistent debt after a further consecutive 18 month period, firms must take steps, such as proposing a repayment plan, to help them to repay their outstanding balances more quickly

* Britain’s FCA: customers who do not respond, or who confirm that they can afford to repay faster but decline to do so, would have their ability to use card suspended (Reporting by Dasha Afanasieva)

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