Economics
Covid Drags 2 Million More U.K. Adults Into Financial Troubles
- Borrowers could need fresh help under new lockdowns, FCA says
- Payment freezes and interest-free overdrafts due to taper off
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The pandemic means 2 million more British adults may be struggling to pay the bills, and British regulators want banks to help them.
A Financial Conduct Authority survey estimates that shuttered restaurants and empty offices pushed the total number of adults facing financial hardship to 12 million in July, up from 10 million in February.