Banks Loosen Purse Strings

U.S. banks are expanding their loans to consumers for the first time since the credit crisis erupted, as lending standards begin to loosen and demand for new loans edges higher.

J.P. Morgan Chase & Co., which Friday posted a 47% profit jump for its fourth quarter, said its total loans increased 6% since the end of September. While most of the loan growth came from loans to businesses, the nation’s No. 2 bank by assets said total credit-card balances rose for the first time in two years.

By RUTH SIMON

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