Fed: Banks Tightened Lending Standards for Small Businesses and Subprime Consumers
By PYMNTS
AI summary of the source article
According to the Federal Reserve's October Senior Loan Officer Opinion Survey, banks tightened lending standards during the third quarter for small businesses, subprime mortgages, and consumer loan borrowers failing to meet credit scoring thresholds.
Key facts
- Banks tightened lending standards in the third quarter for small businesses and subprime mortgages.
- Standards were also tightened for consumer loan borrowers not meeting credit scoring thresholds.
- The data was reported in the Federal Reserve's October Senior Loan Officer Opinion Survey on Bank Lending Practices.
Source excerpt · PYMNTS
Banks reported that during the third quarter, they tightened their lending standards for small businesses, subprime mortgages and borrowers not meeting credit scoring thresholds for consumer loans, the Federal Reserve said in the October edition of its Senior Loan Officer Opinion Survey on Bank Lending Practices. In commercial and industrial (C&I) lending, banks reported that […] The post Fed: Ban…