People are finding themselves in situations where loans are harder to acquire as banks become pickier about who they choose to lend with.
Although the economy only seems to be doing better and better, it appears that banks have tightened their standards. Up 3.3 percent from last year, 11.7 percent of banks have made standards for taking out an auto loan in the first quarter a lot tougher. Credit card standards have also tightened by 8.3 percent of banks, and consumer loans are up 2.4 percent at 7.3 percent of banks.
Image via USA Today.