Credit Cards news in 2024
3 stories, newest first.
- December 2024
PSR publishes final report confirming UK-EEA cross-border interchange fee concerns and consults on price cap remedy
The Payment Systems Regulator has confirmed that Mastercard and Visa likely raised UK-EEA cross-border interchange fees to an unduly high level, and is consulting on a two stage price cap.
- November 2024
Rules on forbearance, sustainable repayment arrangements and repossession as a last resort took effect
FCA rules requiring lenders to show forbearance to borrowers in or approaching arrears, to agree sustainable repayment arrangements and to treat repossession as a last resort took effect on 4 November 2024.
- August 2024
FOS reports 70% rise in complaints in Q1 2024/25
The Financial Ombudsman Service received 74,645 new complaints in the first quarter of 2024/25, up 70% on the same quarter a year earlier, with credit cards the most complained about product.