Regulators Propose Card Chargeoffs At 150 Days

Banking regulators have proposed tightening the timetable by which credit card issuers must charge off delinquent debts. The regulators noted that delinquent credit risks have mounted since 1980 when the existing rule was established. The Federal Financial Institutions Examination Council seeks to c...

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Published in:The American banker 1998-07, Vol.163 (127), p.1
Main Author: McCONNELL, BILL
Format: Article
Language:English
Subjects:
Bank credit cards
Banking industry
Credit and debit card industry
Credit card industry
Laws, regulations and rules
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description Banking regulators have proposed tightening the timetable by which credit card issuers must charge off delinquent debts. The regulators noted that delinquent credit risks have mounted since 1980 when the existing rule was established. The Federal Financial Institutions Examination Council seeks to create a uniform chargeoff requirement, 150 days, for all types of consumer loans.
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ispartof The American banker, 1998-07, Vol.163 (127), p.1
issn 0002-7561
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source EBSCOhost Business Source Ultimate; Nexis UK
subjects Bank credit cards
Banking industry
Credit and debit card industry
Credit card industry
Laws, regulations and rules
title Regulators Propose Card Chargeoffs At 150 Days
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