Banks and Mabs revise debt management protocol

Banks and Mabs revise debt management protocol

The country’s main lenders are poised to launch a revised voluntary code on debt management after negotiations with the state’s Money Advice and Budgeting Service (Mabs).

Banks already have an existing voluntary code with Mabs for debt management. It came into effect in September 2009, outlining a framework for addressing debt problems.

However the debt landscape has significantly shifted since then, with a number of legislative and regulatory changes, including revisions to the Central...

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