Banks to offer credit card and loan payment holidays and £500 interest-free overdrafts
Credit: AP:Associated PressFirms could also be asked to consider other ways to help borrowers, such as reductions in monthly payments.
Customers with an existing overdraft will be able to ask for the additional support to be added to their account, but those without an overdraft already in place will also be able to ask for one. The package would be on top of measures already announced by the government to help households, includingChristopher Woolard, Interim Chief Executive of the FCA, said: "Coronavirus has caused an unprecedented financial shock with far-reaching consequences for consumers in every corner of the UK.
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