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Not so long ago “subprime” was a word to strike fear into the hearts of bankers everywhere.
Risky mortgage lending to people with poor credit ratings – who eventually defaulted on their debt – was the main trigger of the 2008 financial crisis.
But are the banks back to their old ways? Subprime lending is booming once again in the US – not for home loans, but for cars.
Michelle Fleury reports from New York City.
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