NEW YORK – While lenders contend that current conditions represent “a return to more traditional underwriting standards following a period of too-lax standards,” rather than credit tightening, Federal Reserve Board Chairman Ben S. Bernanke said that lending to small business is critical for economic recovery.
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Noting that small businesses employ nearly half of all Americans, Bernanke said, “Making credit accessible to sound small businesses is crucial to our economic recovery and so should be front and center among our current policy challenges.”
