Thousands of people may lose credit cards under new FCA rules
Thousands of credit card customers are at risk of having their accounts suspended in the new year due to the City regulator’s new affordability rules.
Thousands of people may lose credit cards under new FCA rules
Last Updated: 16 July 2020
Published: 02 January 2020
Credit card providers – including UK banks such as Barclays, Lloyds and Royal Bank of Scotland – were last year forced to identify customers who had been in persistent debt for at least 18 months, and have had a further 18 months to convince customers to increase their payments.
Read more at KYC360 .
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