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Credit card firms reminded of obligations ahead of ‘persistent debt’ campaign

Compliance Monitor

Credit card firms reminded of obligations ahead of ‘persistent debt’ campaign

Credit card firms are being warned against making ‘blanket’ suspensions of credit card customers who are in persistent debt when they contact this group in February and March. Firms are obliged to contact card-holders within the next few weeks where they have been in a cycle of ‘persistent debt’ for three years. 

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