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Credit and Debt
Banks raising credit card borrowing limits for subprime customers
Banks raising credit card borrowing limits for subprime customers

The nation's major banks are more readily raising borrowing limits for credit card customers — including those with blemished credit histories — and are facing higher risks as a result. With profits pinched by tighter regulation and low interest rates, banks are easing lending standards at a time when loan losses have plunged, labor markets are stabilizing and consumers are spending more, industry analysts said. Consumer advocates, however, worry that banks' pursuit of profits could result in sticking struggling consumers with more debt than they can handle. Credit card firms approved 61% of the requests from cardholders for higher borrowing limits in an October...

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