The financial crisis has forced lenders to be especially cautious with the riskiest borrowers, a category that low-income families often fall into because their debt tends to be higher relative to income and assets. The ratio of credit-card debt to income is 50% higher for the lowest two-fifths of Americans by income than for the top two-fifths, Federal Reserve data show.
Saturday, October 10, 2009
The 'Democratization of Credit' Is Over -- Now It's Payback Time
The Wall Street Journal reports:
