Wednesday August 12, 2020

Credit unions face losses due to mortgage plan

Credit unions and other unsecured creditors are set to face further losses as a result of the Central Bank's new policies for resolving mortgage arrears, writes Jon Ihle.

17th March, 2013

Credit unions and other unsecured creditors are set to face further losses as a result of the Central Bank's new policies for resolving mortgage arrears.

Under a new framework being hammered by the Central Bank out with the banks and other lenders, secured debt - such as mortgages - will be given formal priority over unsecured debt - such as personal loans and credit cards - in creating sustainable solutions for borrowers in arrears on...

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