Default On Loans News Today

By demanding the appointment of nodal officers at every credit institution, assigning a financial penalty for delay in redress of customer grievances, and regular updates to the customers on access of their credit information reports, one can expect the industry to be more customer-friendly.

The two-page memo does not go into detail on how the caucus would implement the plan, but it alludes to a framework that would take “a reasonable, responsible bipartisan approach.”