Bank Loan Restrictions Near Historic Highs
The Federal Reserve reported Monday that the percentage of banks reporting tighter lending standards was near historic highs for almost all loan categories including home mortgages, other consumer loans and business loans as lenders react to the credit crisis. The Fed found that nearly two-thirds of banks surveyed in April had tightened lending standards on traditional home mortgages with 15 percent saying those standards had been tightened considerably. The credit crisis began last year with
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Tags: Bank, Business, Credit, Federal Reserve, Home, Loan, Mortgage, Mortgages