Banks plan to expand small-business lending but provide few details

03/7/2010 | Google

Banks including JPMorgan Chase, Wells Fargo and Huntington Bancshares announced plans to expand small-business lending. However, they have not provided details about how they define "small business," as well as other specifics. "[Banks] get to pick and choose what numbers they tell us without having to give any context," said finance writer James Kwak. "It doesn't mean they are sinister, but their numbers will be hard to verify."

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