'The federal response to the ongoing banking crisis may end up having a big impact on the nation’s smallest banks that bear no responsibility for the turmoil.'
for foxbusiness.com warning against overzealous regulation of community banks in the wake of the Silicon Valley Bank failure because they offer the majority of small business loans and an even greater proportion of farm loans:
The federal response to the ongoing banking crisis may end up having a big impact on the nation’s smallest banks that bear no responsibility for the turmoil. Community banks have an outsized impact on local economies throughout the country, so hamstringing them with new costs would have broad consequences.Community banks provide roughly 60% of all small business loans and more than 80% of farm loans.
finds that the costs associated with adding only two compliance employees to bank payrolls would make one-third of community banks unprofitable.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Silicon Valley Bank bought, but Silicon Valley has already moved on‘We don’t even think about it anymore except to say, “Oh my gosh, remember how crazy it was?”‘
Read more »
Don't let Silicon Valley Bank's financial catastrophe spill over to these crucial banksCommunity banks may pay a heavy price for the collapse of Silicon Valley Bank and Signature Bank. But the nation's smallest banks bear no responsibility for recent financial fiasco.
Read more »
Silicon Valley Bank itself was main cause of bank’s failure, Fed official saysThe nation’s top financial regulator is asserting that Silicon Valley Bank’s own management was largely to blame for the bank’s failure earlier this month.
Read more »
Key bank regulators appear before Congress in first Silicon Valley Bank hearingThree key bank regulators are testifying before Congress today in the first hearing about Silicon Valley Bank's collapse that sparked panic about the health of the financial system. Here's what to know.
Read more »
Fed’s Barr calls Silicon Valley Bank a ‘textbook case of mismanagement’The FDIC announced on Monday that First Citizens Bancshares Inc. is acquiring large pieces of SVB more than two weeks after the lender’s collapse caused turmoil in the banking system.
Read more »
First Citizens stock price surges after Silicon Valley Bank dealFirst Citizens Bank jumps 50% after deal to acquire assets of collapsed Silicon Valley Bank
Read more »