Consumers faced a record number of rejected credit applications last month, according to new data released by the New York Federal Reserve. This surge in denials could indicate the banks' view of economic uncertainty as inflation and tariffs weigh on Americans, experts told Newsweek. Banks decide whether to approve or deny a loan based on several factors related to an applicant’s financial situation. However, worsened economic conditions can heighten the rejection rate as banks brace for more

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