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Thailand Caps Debt Collection Fees at Actual Costs Incurred.
Jan. 9--Commercial banks may charge debt collection fees for overdue credit card customers based only on actual expenses, the Bank of Thailand said yesterday.
In a circular issued to local banks, regulators said that collection fees could only reflect actual expenses incurred by card issuers for any given account.
In cases where debt collection is outsourced to a third party, a collection fee can be based only on the actual expenses paid by the card issuer.
M.R. Pridiyathorn Devakula, the central bank governor, said yesterday that third-party collection fees could not include general operating expenses such as staff costs, utilities and office ...
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Source: HighBeam Research, Thailand Caps Debt Collection Fees at Actual Costs Incurred.