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Fri 10 Oct 2006Credit unions told to act on bad debtThe Irish Financial Services Regulatory Authority has asked the boards of several credit unions to take "remedial action" to deal with unusually high levels of bad debt on their loan books.The credit unions in question have not been publicly identified, but each was among 26 that were told to scrutinise their books during the summer after a new reporting scheme raised questions about their bad debt profile.