WASHINGTON — Lenders continued to face challenges with loan growth in the second quarter as interest rates increased, a Federal Reserve Board report said.

"Lending activity weakened a bit, and several districts reported less-favorable conditions than in the preceding reporting period," according to the Fed's quarterly economic survey known as the Beige Book. "Most districts indicated no better than modest growth."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.