More Americans are getting turned down for loans, Fed data shows
The rejection rate for loan applicants jumped to 21.8% in the 12 months through June
Americans are increasingly likely to get turned down when they apply for credit, according to a new Federal Reserve survey that shows the combined impact of high interest rates and a cautious turn among the country’s lenders. The rejection rate for loan applicants jumped to 21.8% in the 12 months through June, the highest level in five […]
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