The quarterly report finds 85% have strengthened requirements for business loans and 95% have done so for business lines of credit.
The Associated Press-November 4, 2008
Reporting from Washington -- Banks have tightened up further on all sorts of lending, including home mortgages, credit cards and business loans, as the worst financial crisis in seven decades took a bigger toll on the economy.The Federal Reserve said Monday that its latest quarterly survey of bank lending practices found high numbers of banks reporting tighter credit standards across a broad range of loan products.
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