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Credit card industry may cut $2 trillion of lines: analyst | U.S.

24/7 Wall St. found this 12/1/2008 on reuters.com

(Reuters) - The U.S. credit card industry may pull back well over $2 trillion of lines over the next 18 months due to risk aversion and regulatory changes, leading to sharp declines in consumer spending, prominent banking analyst Meredith Whitney said. The credit card is the second key source of ...