Analysts estimate that 50 out of the nation’s 7,500 small and midsize banks will fail in the next 12 to 18 month, due to defaults on commercial real estate loans. The best quote in this NYT article comes from Timothy W. Long, head of supervision for midsize and community banks at the office of the comptroller, “I would tell you a lot of bankers out there have never had a loan charged off…The last time we went through this, the loan officers were in junior high.”
50 Small to Midsize Banks Could Fail Next Year
By consumerist.com February 27, 2008
- Vulnerable Banking Risk Evaluation Report Finds Mobile Banking Leaves Some Banks More Vulnerable to Cyber Attacks
- A New Frontier Banks Ditched Payday Lending-Like Programs, But What’s Next?
- Relief A Long time In the Making HSBC Must Pay $470M For Alleged Abusive Loan Practices
- planning ahead Banks Working With HELOC Borrowers To Prevent Potential Loan-Default Disaster Before It Happens
- Small Steps A Small Victory Against Predatory Lending? Regions Discontinues Payday Loan Product