FDIC chief economist highlights factors behind community bank failure
The chief economist of the Federal Deposit Insurance Corporation (FDIC), Richard Brown, today presented evidence about how some community banks in the US got into trouble and ultimately collapsed during the financial crisis.
"Our research confirms the crucial role that community banks play in the American financial system," Brown said, in testimony before a committee of the US Senate. According to the FDIC's study, which defined community banks based on a "focus on lending, reliance on core
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