Bankers are urging the government to leave rules governing loan chargeoffs alone, arguing that proposed changes would be costly and burdensome.

"Changes could present enormous economic costs to consumer lenders, while providing little added value to risk management at affected institutions," according to Martha Pampel, senior counsel, Household Credit Services Inc., Prospect Heights, Ill.

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.