Feds: No Forgiving Credit Card Debt

Ad Feedback

Federal bank regulators have given a thumbs down to the idea of forgiving credit card debt.

Some banks and consumer groups had asked the government for a special test program that would have forgiven up to 40 percent of credit card debt.

It would have effected as many as 50,000 people. But regulators didn't like the idea of avoiding timely payments.

Instead, they say they will continue to work with banks and Congress for alternatives.

Americans have an estimated $900 billion in credit card debt.

Log in or create an account to post a comment.  


Are you seeking answers in life? Are you hurting? Are you facing a difficult situation?

Find peace with God, discover more about God or send us your prayer request.

Call The 700 Club Prayer Center at 1 (800) 823-6053, 24 hours a day.

A caring friend will be there to pray with you in your time of need.

CBN News


CBN News is a national/international, nonprofit news organization that provides programming by cable, satellite, and the Internet, 24-hours a day. Follow us on Facebook, Twitter, and Google+.