WASHINGTON – A new study suggests credit unions may not see as many loan applications from consumers previously turned away by banks.
The Federal Reserve said in a new report U.S. banks have been easing lending standards and most terms on all major non-real estate loans during the past three months. The Fed’s survey of senior loan officers also found most reporting an increase in demand for loans, particularly in commercial real estate.
The banks, however, reported that demand had weakened for general consumer loans, although limited increases in credit cards and new auto loans was reported.
