Wells Fargo tells customers it’s shuttering all personal lines of credit

 https://www.cnbc.com/2021/07/08/wells-fargo-is-shutting-down-all-personal-line-of-credit-accounts-.html

• The bank is shutting down all existing personal lines of credit in coming weeks and no longer offers the product, according to customer letters reviewed by CNBC.
• The product, which typically gave users $3,000 to $100,000 in revolving credit lines, was pitched as a way to consolidate higher-interest credit-card debt, pay for home renovations or avoid overdraft fees on linked checking accounts.
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• All banks suddenly cut sharply back on all loans about a 45 days ago. That's one reason the house-buying frenzy slowed a bit.

  Banks finally see the economy is collapsing and that's why banks and Money markets have been shoving their money into the Fed via reverse repo.

  The $Trillions$ of dollars the fed covered the earth with are about to collapse the dollar and/or send rates sky high so banks don't want to make 3-5% loans when we are looking at potentially 18% rates again like in the 1980s. This will suck everything down with it 80-90%---stonks, RE, etc.or worse yet, massive defaults.. NEVER say never in this Enviorment..