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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Yves Smith</author_name><author_url>https://www.nakedcapitalism.com/author/yves-smith</author_url><title>Advanta, With 20% Uncollectable Debt, to Shut Off Lending | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="KyGCviE7UL"&gt;&lt;a href="https://www.nakedcapitalism.com/2009/05/advanta-to-shut-off-lending.html"&gt;Advanta, With 20% Uncollectable Debt, to Shut Off Lending&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2009/05/advanta-to-shut-off-lending.html/embed#?secret=KyGCviE7UL" width="600" height="338" title="&#x201C;Advanta, With 20% Uncollectable Debt, to Shut Off Lending&#x201D; &#x2014; naked capitalism" data-secret="KyGCviE7UL" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>Advante, the 12th biggest credit card issuer, is ceasing all new lending as of June 10. This is yet another example of how the credit contraction is hitting small businesses. Since the credit card industry is highly concentrated, Advanta is pretty small fry, with only $5 billion in outstanding credit. But that was devoted entirely [&hellip;]</description></oembed>

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