All posts tagged "Credit card"
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408Australia & NZACCC Commences Legal Proceedings Against Mastercard Units
The ACCC says Mastercard offered cheaper rates to over 20 major retail businesses if they used its own network to process transactions.
May 31, 2022 -
427TaiwanTaiwan Extends Application Period for Loan Deferrals
Borrowers that have difficulty repaying their loans can apply for a three to six month deferment. The deadline for applications is 30 June 2023.
May 27, 2022 -
513AML / KYCFSS Korea Launches Probe Over Shinhan Card Frauds
Shinhan Card is directed to enhance its card issuance and fraud prevention systems, and compensate customers for losses.
April 26, 2022 -
589Australia & NZAustralian Court Orders Westpac to Pay A$113m in Penalties
The penalties are the result of six proceedings brought by ASIC in November. Westpac had already agreed to pay the penalties and customer remediation.
April 25, 2022 -
646TaiwanTaiwan Banks Agree to Continue Extending Consumer Loan Relief
Lenders have agreed to extend repayment periods for personal consumer financial products and to provide more favourable repayment plans.
February 11, 2022 -
707Taiwan
FSC Taiwan Lowers Notification Threshold for Online Transactions
Banks have six months to update their system to reflect the new TWD 3,000 threshold that will trigger notifications that an online card transaction has taken place.
January 21, 2022 -
529ChinaCBIRC Targets Disorderly Expansion of Credit Card Market
Under new draft rules, banks are required to reduce interest and fee charges, prevent excessive credit usage, and better control credit risk in card operations.
January 3, 2022 -
257Australia & NZANZ Faces Class Action for Over Credit Card Interest Charges
The class action alleges ANZ contravened the ASIC Act by charging retrospective interest and interest on purchases that were paid off in a timely manner.
December 9, 2021 -
610Australia & NZACCC Approves NAB Acquisition of Citi Consumer Business
In its review, which focused on competition in the supply of credit cards, the ACCC found that the transaction "would not substantially lessen competition".
November 26, 2021 -
246KoreaFSC Korea to Launch New Initiative to Boost Microfinance
The new credit card-based microloan service seeks to expand opportunities for lower income earners without access to traditional credit finance channels.
October 27, 2021
