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CBRC to regulate bank charges

08-05-2010 11:47 BJT

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It's been a recent topic of hot debate - whether or not banks should charge additional fees for withdrawals, password changes, and lost cards. China Banking Regulatory Commission is asking the country's commercial banks to further regulate their service charges.

The Commission has set a specific timetable, requiring state-owned banks, joint-stock commercial banks, as well as the Postal Savings Bank to submit their self-audit results before Friday. City-level commercial banks and other financial institutions are to report before next Wednesday.

The Commission is asking banks to consider the feasibility and reasonableness of their service charges, and to stop charging fees that violate regulations. It's also requiring commercial banks to fully disclose their fee schedules to customers.

Editor:Xiong Qu |Source: CNTV.CN

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