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Bernanke Urges Banks to Help Borrowers More

Federal Reserve Chairman Ben Bernanke told a roomful of bankers Tuesday that they need to do more to help troubled borrowers. Banks have been giving borrowers who are about to default more time to make payments and are renegotiating interest rates in some cases, but few banks have considered reducing the principal owed. That's exactly what the Fed chairman suggested they do.

Copyright 2023 NPR. To see more, visit https://www.npr.org.

Jim Zarroli is an NPR correspondent based in New York. He covers economics and business news.