Thu, Mar 16, 2006 - Page 1 News List

Banks laud decision on card rate-cap

CARD DEBT A Cabinet decision to oppose a planned ceiling on interest rates for cash and credit card loans was welcomed by the finance sector; lawmakers were less happy

By Amber Chung  /  STAFF REPORTER

Two versions of amendments proposed by lawmakers, which were to cap universal interest rates -- which applied to all kinds of lending -- at 12 percent and 10 percent, passed their first reading on Monday.

Additional reporting by Jackie Lin and Shih Hsiu-chuan

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