Britain's FCA proposes temporary financial relief for customers

LONDON, April 2 (Reuters) - The Financial Conduct Authority
on Thursday proposed a range of new measures to support
households facing sudden financial hardship as result of the
coronavirus, including three-month payment freezes on loans and
credit card debt.

The package, intended to complement relief already announced
by government to support mortgage holders, furloughed staff,
renters and the self-employed, also includes pledges to slash
interest rates on arranged overdrafts up to 500 pounds to zero,
for up to three months.

The FCA, which supervises banks and credit providers across
Britain also said consumers using any of these temporary
measures should not see their credit rating affected.

It also said it would ensure all overdraft customers were no
worse off on price when compared to prices they were charged
before recent overdraft changes came into force.
(Reporting By Sinead Cruise, editing by Huw Jones)