Loans are getting harder to come by for some consumers
Posted: Tue Feb 14, 2017 7:25 am
USA Today - 2/12/2017 - Paul Davidson - Banks are getting more picky about which consumers they're approving for loans as borrowers with spottier credit histories struggle to keep up with payments. The data is surprising in light of an economy and labor market that have been rolling along. Consumers are benefiting from solid job growth, faster pay increases and low debt levels. And the stock market is at record highs. Yet 11.7% of banks tightened standards for auto loans in the first quarter, up from 3.3% late last year and the highest level on records dating back to 2011, according to the senior loan officer survey released by the Federal Reserve last week and Deutsche Bank. Read more @ http://www.usatoday.com/story/money/201 ... /97766938/