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When will the new regulations come into effect?
The exposure draft provides a basis for the trial of civil disputes over bank cards from the aspects of credit card overdraft, fake card transaction and online card swiping. Especially in the aspect of credit card overdraft, the draft for comment has made quite different adjustments from the current penalty interest requirements of banks, which is beneficial to credit card holders.

The core points are as follows:

1. If the credit card holder chooses the minimum repayment method to repay the credit card overdraft, and has already repaid the minimum repayment amount, the people's court shall support the claim that the overdraft interest is calculated according to the unpaid overdraft amount from the billing date to the repayment date.

2. In the case of disputes over fake card transactions, if the issuer fails to immediately inform the cardholder of the changes in the bank card account transactions, resulting in the fact that the fake card transactions cannot be ascertained, the issuer shall bear the legal consequences of failing to provide evidence. If the issuing bank claims that the cardholder has no obligation to notify the cardholder by SMS on the grounds that the cardholder has not purchased the paid SMS notification service, the people's court will not support it unless the cardholder does not have a mobile phone or both parties agree to notify him by other means.

3. In view of the problem of online card swiping, if the non-bank payment institution or the issuing bank promises to pay the cardholder's online card swiping loss first, the people's court shall support it.

From the date of publication of the draft for comments to June 30th, we will openly solicit opinions from the whole society. After the implementation of the "Regulations", different time effects have been put forward for different cases, and these Provisions shall apply to cases that have not been finalized after the implementation of the "Regulations". These Provisions shall not apply to cases that have been finalized before the implementation of these Provisions, and if the parties apply for retrial or decide to retry in accordance with the procedure of trial supervision.