Banks are cracking down on credit counseling agencies, refusing to work with those that do not meet certain standards when working out repayment programs for debtors.

The banks are concerned that some agencies-particularly ones that operate for profit-are rubber-stamping relaxed payment plans for delinquent borrowers who could afford to pay more.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.