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March 17, 2009

Treasury Report: Banks Decrease Lending After Bailout
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A new Treasury report has found the nation’s largest banks are
continuing to reduce the flow of credit to new homeowners and consumers
despite receiving hundreds of billions of dollars in taxpayer bailouts.
In December, the nation’s twenty-one largest banks lent out $162 billion
for first mortgages. Less than half that amount was lent out in January.
New home equity credit lines decreased from $15 billion to just $5
billion.



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