June 19, 2020 / 6:23 AM / in 14 days

UK markets watchdog proposes further 3-month consumer credit payment holiday

LONDON, June 19 (Reuters) - Britain’s markets watchdog on Friday proposed enabling consumers to extend a payment freeze on their credit cards by a further three months, as part of measures to support borrowers in difficulties due to the coronavirus pandemic.

Those who had not yet asked for a payment freeze on credit cards or for an interest-free overdraft of up to 500 pounds ($620) could also seek one up until Oct 31, the Financial Conduct Authority said in a statement.

$1 = 0.8041 pounds Reporting by Carolyn Cohn; editing by John Stonestreet

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