November 3, 2015 / 7:27 AM / 2 years ago

BRIEF-FCA says credit card competition working fairly well

Nov 3 (Reuters) - Financial Conduct Authority (FCA):

* Credit card competition working fairly well but concern for customers in long-term debt

* Found that competition is working fairly well for most consumers

* Concerned about scale of potentially problematic debt for consumers who are just above default levels, and incentives for firms to manage this

* Has identified a range of potential remedies to make market work better for consumers (Bengaluru Newsroom: +91 80 6749 1136)

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