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"Strict credit criteria can cause difficulty for many," Ms Nelson says.
"People have been reading about the strict credit regulations, and have taken the necessary steps that will improve their credit and allow them to buy," Mr. Roth said.
The research on payment culture found that 44% of businesses have strict credit control facilities, and were much less likely to have a serious issue with late payment than the 16% with informal set-ups.
(See "IMF: Banks Need Billions More").. Crucially, this lack of transparency from banks has also led to a continuation of strict credit conditions for consumers and small businesses.
Joseph Vause, the company's vice president of electronic commerce, says that the difficulty stems as much from cultural confusion as from less strict credit card authorization policies abroad, which lead to fraud.
The federal government had created the Second Bank of the United States in 1817, and its strict credit policy hit Kentucky's large debtor class hard.
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Many businesspeople complain that Mexico's banks have been playing things too safe.Part of the stinginess is due a strict credit-scoring regime, operated by two private agencies that are owned mainly by the banks themselves.
More than 15 million Americans lost their cards because of strict credit-card regulations that were passed last year, or when issuers cut back on credit during the recession, said David Robertson, publisher of The Nilson Report, a credit card industry newsletter.
After all, stricter credit standards are making lending difficult.
To curb additional loan defaults, Harley adopted stricter credit standards in November, requiring buyers to put down 20percentt.
After her experience, Garrett employed someone to look after financial planning and put stricter credit control processes in place.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com