WASHINGTON (AP) -- Banks tightened up further on all sorts of lending from home mortgages to credit cards and business loans as the worst financial crisis in seven decades took a bigger toll on the economy.
The Federal Reserve says its latest quarterly survey of bank lending practices found high numbers of banks reporting tighter credit standards across a broad range of loan products.
The Fed says its survey, released Monday and conducted in the first two weeks of October, found that sizable percentages of banks had "continued to tighten their lending standards and terms on all major loan categories over the previous three months."
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