Credit Is Tightening Due to Banking Crisis, CMI Shows

 🎙 NACM's Credit Managers' Index (CMI) revealed credit application approvals dropped in April even as applications for new credit increased. The factor of rejections of credit applications fell 2.7 points into contraction territory at 49.7—its lowest level since July 2009 during the Great Recession. The flow of credit is being crunched by financial panic, said NACM Economist Amy Crews Cutts, Ph.D., CBE. 

Hear more in today's episode of Extra Credit.