Search
 

Filene Report Advocates New Yardstick For Credit Card Debtors' Ability to Repay

CU Times Managing Editor

By Donald Shoultz | Updated on July 15, 2008

CU Times Managing Editor

HOBOKEN, N.J. — Consumer lenders need to prepare for the coming crush of revolving debt defaults by adopting a new way to gauge repayment capacity, according to the Filene Research Institute.

The Filene report released last week introduces a new concept called “responsible debt relief,” a program that offers an estimate of a consumer’s ability to repay outstanding debt. The report–”Responsible Debt Relief: An Algorithmic Assessment of Household Debt Capacity and Repayment Capability”–was written by Robert D. Manning, director of the Center for Consumer Financial Services at the Rochester Institute of Technology.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.