first_img Under the proposals, consumers could seek payment holidays up until the end of October (Getty Images) Also Read: FCA proposes extending coronavirus consumer credit payment holiday Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMisterStoryWoman files for divorce after seeing this photoMisterStoryDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsMoney PopThe 20 Most Valuable Collectible Hot Wheels CarsMoney Popinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.com The FCA is inviting responses to its proposals until 5pm on 22 June, and expects to finalise its guidance shortly afterwards.  FCA proposes extending coronavirus consumer credit payment holiday The Financial Conduct Authority (FCA) has proposed allowing consumers to extend a payment freeze on their credit cards by a further three months to support borrowers struggling financially amid the coronavirus pandemic.  Under the proposals from the markets watchdog, those who have not yet asked for a payment freeze on credit cards or for an interest-free overdraft of up to £500 could request one up until the end of October.  Show Comments ▼ More From Our Partners LA news reporter doesn’t seem to recognize actor Mark Currythegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.com whatsapp “The banking and finance industry has a clear plan to help the country through these tough times and is committed to providing ongoing support to those customers who need it,” said UK Finance managing director Eric Leenders. Once a payments freeze comes to an end, firms should contact customers to find out if they are able to resume payments, and if so agree a plan on how the missed payments can be repaid, the FCA said. Before the Open newsletter: Start your day with the City View podcast and key market datacenter_img whatsapp He added that the industry was looking forward to the guidance “being finalised swiftly to ensure both borrowers and lenders can plan ahead to ensure customers can have some peace of mind regarding the consequences of Covid-19 on their money”. The regulator said it would update its guidance on other forms of borrowing including motor finance, payday loans and pawnbroking soon. Friday 19 June 2020 10:03 am Banking industry body UK Finance welcomed the watchdog’s proposals and said it would work closely with the FCA to finalise the guidance. Tags: Coronavirus FCA “Where consumers can afford to make payments, it is in their best long-term interest to do so, but for those who need help, it will be there.” Under the proposals, consumers could seek payment holidays up until the end of October (Getty Images) The extension to the payment holiday, which was introduced in April, would also enable customers to ask for a reduced interest rate on any overdraft borrowing above £500. “The proposals we’ve announced today would provide an expected minimum level of financial support for consumers who remain in, or enter, temporary financial difficulty due to coronavirus,” said FCA interim chief executive Christopher Woolard.  Anna Menin Under the proposals, consumers could seek payment holidays up until the end of October (Getty Images) Also Read: FCA proposes extending coronavirus consumer credit payment holiday last_img read more

first_img whatsapp whatsapp Business leaders have hit out at David Cameron for opposing freedom of movement across the EU, warning yesterday that he is ignoring the real issues facing Britain.The Prime Minister has previously said that freedom of movement will be “at the very heart of my renegotiation strategy for Europe”, with his chancellor George Osborne hinting yesterday that the migration of EU citizens without job offers could be up for debate.Leading industry groups are keen for Cameron to push for strong reforms in Brussels, but yesterday the Confederation of British Industry (CBI) and Institute of Directors (IoD) slammed the PM’s priorities.“I am extremely concerned about the direction the current debate on immigration is heading and I know business leaders share this sense of unease,” CBI boss John Cridland told City A.M., adding that freedom of movement is a “fundamental part of the single market”.Allie Renison, head of Europe and trade policy at the IoD, added: “It’s rather self-defeating for David Cameron to make something as difficult to renegotiate as freedom of movement the seeming centrepiece of his EU reform agenda, particularly when it’s clear this is something which benefits British businesses.”Chief executive of The City UK Chris Cummings added that highly skilled EU migrants are “a huge benefit to the UK economy.” Show Comments ▼ Tags: UK immigration Kate McCannKate McCann is a reporter at City A.M. She covers politics and insurance and can be contacted at [email protected] Share More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com David Cameron criticised for wanting to restrict Europe immigration Monday 3 November 2014 9:05 pmlast_img read more