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UK watchdog concerned about long-term debt in credit card probe
November 3, 2015 / 7:22 AM / 2 years ago

UK watchdog concerned about long-term debt in credit card probe

LONDON, Nov 3 (Reuters) - Britain’s credit card market is working “fairly well” but there is concern for customers in long-term debt, the country’s financial regulator said on Tuesday.

The Financial Conduct Authority (FCA) said last November that it would study how easy it is for customers in Europe’s biggest credit card market to shop around, how card providers recover costs, and the extent of unaffordable debt.

Reporting by Matt Scuffham; Editing by Steve Slater

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