Taiwan Government Suggests Banks Should Cooperate on Debt Collection

Taking a “house-divided-can’t-do-much” approach, Taiwan’s government is suggesting that the country’s banks should join forces and start collecting on bad debt.

What prompted this suggestion of teamwork?  Taiwan’s banks recently announced defaulters of over NT$100 ($3 million) million in loans.  And, since banks do little to collect these amounts, most of the debtors have fled Taiwan.