ABC Evening News for Wednesday, Mar 05, 1975
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(Studio) Recession causes tighter credit standards to be applied to consumers, especially to holders of credit cards.
REPORTER: Howard K. Smith
(Atlanta, Georgia) Banks and credit card companies, alarmed by rate of credit card abuse, cracking down. [National Credit Card Recovery Bureau Joseph STEWART - says with unemployment high, many people living off credit cards.] Bank Americard delinquent accts. rise by 20% in `74; Master Charge's rise 27%. [Bank Americard spokesperson Edward HAUSCHILD - says many middle income families using credit cards to try and meet necessities of life.] Banks and credit card companies making it difficult to get new credit once credit cards recalled.
REPORTER: Bill Wordham
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