• Banks Are Getting Cold Feet Over Lending Amid Recession Fears

    1 month ago - By Fortune

    After shares in U.S. banks hitting a 15-month low with their stocks officially in bear market territory , financial institutions are getting cautious.
    That's because many of them expect a recession sometime soon, as do most chief financial officers , according to the Duke CFO Global Business Outlook poll.
    Banks are pulling back from riskier loans , Reuters found in an examination of federal data. The institutions turned down almost half of applications from people with low credit scores, versus 43% at the same time last year. Banks also close accounts for 7% of existing customers overall...
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