CBRC holds meeting on bank inquiry fee – Shanghai Daily

From Shanghai Daily via China Economic Net:

China Regulatory Commission and the central bank held a meeting yesterday with representatives from commercial banks and China UnionPay to talk about heavily debated trans-bank inquiry fee, Xinhua news agency reported today.

Commercial banks began charging cardholders 0.3 yuan (3.7 US cents) for each trans-bank inquiry from June 1, which has caused a lot of controversy recently.

The commission didn’t publish the discussion result yesterday, but insiders said the meeting indicated that the commission is paying attention to the issue and will improve the supervision on bank fees.[Full Text]

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