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My Two Cents

Consumer Credit Drying Up?

Chris Farrell Feb 3, 2008

I wonder when this credit card action by Citigroup crosses the pond to the U.S.? From today’s Wall Street Journal:

“In a sign of more consumers losing access to loans, Citigroup Inc. has told some 161,000 credit-card customers in the U.K. that they can use their cards until the first week of March and then they’ll no longer be able to tap the New York bank for credit.”

Mortgage credit is tight. So are auto loans and student loans. Credit cards are next….

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