Individual borrowers say how much they need to borrow (up to $25,000) and the maximum interest rate they will pay.
Companies that need to borrow for investment face cripplingly high real interest rates; most individual borrowers will get nothing at all from their banks.
Individual borrowers and businesses may (and some will) default.
Reports from institutional and individual borrowers across the country indicate this.
So lenders had scant incentive to spend much time scrutinizing the creditworthiness of individual borrowers.
One of the crucial missing pieces is the credit histories of individual borrowers, he said.
For a retail bank, something like half its individual borrowers are already unprofitable.
Mr. deRitis, of Moody's, said he was examining the credit card accounts of individual borrowers.
Under the plan, lenders would have forgiven about 40percentt of what was owed by individual borrowers over five years.
Mr. Hanzimanolis said companies that seemingly offer help to individual borrowers might actually be making matters worse.
But unless they are a significant improvement over the Fed's previous proposals, they will not go far enough to protect individual borrowers.
