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Banks push debt forgiveness plan amid global credit crunch
Banks and consumer groups urge federal action to allow forgiving up to 40 percent of credit card debt in a pilot program. The plan targets as many as 50,000 indebted borrowers and aims to reduce losses from rising defaults while helping borrowers avoid bankruptcy and foreclosure.
MENTIONED IN THIS ARTICLE
Washington
Susan Keating
National Foundation For Credit Counseling
Discover Financial Services LLC
Bank of America Corp
Citigroup Inc
Jpmorgan Chase & Co
Consumer Federation of America
Bert Ely
Alexandria
U.S