Friday April 3, 2020

Banks seek change of rules on borrowers

Banks are trying to get the go-ahead from the Central Bank to increase the pace of their debt recovery efforts.

13th January, 2013

Banks are trying to get the go-ahead from the Central Bank to increase the pace of their debt recovery efforts by making more frequent unsolicited contact with borrowers who missed payments on their mortgages or other loans, *The Sunday Business Post* has learned.

The lenders, which collectively are dealing with 150,000 mortgage accounts in arrears, are looking to relax strict rules limiting them to having three interactions with customers per month outside of those required...

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