New York (Indiana’s NewsCenter) - All eyes are on Wall Street after Moody's credit rating agency downgraded some of the world's biggest banks.
The affected banks include America's top five, which are Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase and Morgan Stanley.
Moody's believes their lasting prospects for profitability and growth are shrinking.
The downgrade means it will cost the banks more to borrow money and do business something that will directly affect the public, making it more difficult and more expensive to get loans on everything from cars to mortgages.
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