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Bank of Thailand Puts Cap on Credit-Card Debt Fees.
Jan. 4--The Bank of Thailand will announce maximum fees permitted for banks in collecting debt on credit cards next week, said Samart Buranawattanachoke, senior director of the central bank's Financial Institutions Policy Group.
In November, the central bank announced new restrictions on credit card issuers. They included a limit on cash advances of up to 3 percent of the amount withdrawn, cheque return fees limited at 200 baht for non-bank issuers, and operating fees based on limits set by the central bank. Interest and other expenses outside of debt collection, cash advances and operating fees were also limited at 18 percent a year.
The circular to be ...
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Source: HighBeam Research, Bank of Thailand Puts Cap on Credit-Card Debt Fees.