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Politics : Formerly About Advanced Micro Devices

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From: bentway	1/31/2009 10:41:34 AM
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Lenders abruptly cut lines of credit Fear excessive use amid hard times By Beth Healy Globe Staff / January 31, 2009 Banks and other lenders nationwide, seeking to reduce their debt exposure, are shutting off and limiting consumer credit card lines, even for many customers who carry low balances and pay on time. As much as $2 trillion in consumer credit - nearly half of what is available - could be rescinded, according to an estimate by a prominent banking analyst. Just two years ago, institutions were handing out liberal borrowing lines to almost anyone. But now, drowning in debt and soured investments, lenders are seeking to stop consumers from running up big balances in hard times, bills they might not be able to pay. boston.com

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