Banks are cutting back on lending to the riskiest borrowers (TRU)

John Moore/Getty Banks are scaling back on lending to Americanswith the lowest credit scores, according to a study from TransUnion. Lenders processed fewer new personal loans, auto loans, and credit cards for subprime borrowers year-on-year in Q2 for the first time since 2012. Lenders tightened their standards after the housing crisis a decade ago following several years of reckless lending to subprime borrowers. As the economy rebounded, they opened up access to the subprime part of the market....