Fed's Greenspan on consumer finance

In a speech on 'Consumer finance' given on 8 April, Alan Greenspan of the Federal Reserve said the success of financial services industries in expanding credit availability has significantly helped the U.S. economy.

"Home ownership is at a record high, and the number of home mortgage loans to low- and moderate-income and minority families has risen rapidly over the last five years," Greenspan said in the speech to a conference on community affairs sponsored by the Fed.

"Credit cards and

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