Affected by new crown pneumonia epidemic, UK Financial Conduct Authority may relax credit card repayment deadlines

According to the Financial Times, UK banks are asking the country’s regulators to relax credit card repayment rules, a move designed to help customers cope with financial difficulties during the new crown pneumonia crisis. Some UK banks have proposed that the Financial Conduct Authority (FCA) temporarily extend the credit card repayment period, which can delay credit card repayment bills by up to three months, and apply the policy to those facing financial difficulties due to the outbreak of the new crown pneumonia in the UK consumer. At the same time, credit card issuers can still charge fees during any extension period, but will not treat customers as arrears to ensure that their credit ratings are not affected. The CEOs of eight UK banks and FCA interim CEO Chris Woolard will discuss further steps in a video conference. The Financial Conduct Authority (FCA) said it would release further announcements on the measures next week.