American Morning

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March 23rd, 2009
08:00 AM ET

Community bank boom

 CNN's Jason Carroll reports on how some community banks are booming where big banks are failing.
CNN's Jason Carroll reports on how some community banks are booming where big banks are failing.

Bigger is definitely not better right now in the banking business. We're seeing commercial banks buried under a mountain of debt and needing the government to save them from themselves.

But for some smaller, community-based banks... business is booming.

They may not have the name recognition but some start-up banks say they can provide service that's just as good as the larger chains and they say their customer's money is just as safe.


Filed under: Business • Economy
soundoff (2 Responses)
  1. CPB-Texas

    Why didn't you mention the thousands of small local Bank operations that have been doing the same thing for decades? They far out number the start ups. These are the bank that fund the local economies.

    Recently this FDIC tried the exhort money from these banks with a " SPECIAL ASSESSMENT". Where is that story?

    March 23, 2009 at 8:58 am |
  2. Steve - Michigan

    So why exactly isnt the Fed/Whitehouse/congress openly entertaining the idea that we shouldnt throw good investment money after Bad people/institutions, but instead invest in smaller banks and Credit unions and put a larger share of the money in their hands since they seem to be more responsible so far.

    Its entirely possible they may Become irresponsible at some point or get bought out by those that are, however, we dont know that, and cant predict that. What we DO know is that those on wall street already ARE bad and wasting our money, while enriching themselves.

    If we are talking about thinking outside the box for whats best for our nation, why dont we consider stopping allowing some industries to basically rip off consumers for their benefit and push lower profit, lower crime, lower problem solutions for some industries such as nationwide banking, and energy, and health.

    March 23, 2009 at 8:56 am |