CHICAGO

Demetris Giannoulias: Is Broadway Bank Too Little To Survive?

06/23/2010 05:12 am 05:12:01 | Updated May 25, 2011

When a community bank in Illinois fails, there are many losers: the bank's employees, customers, community and the local economy to name only a few.

Today, thousands of community banks are struggling. A recent report by the panel responsible for assessing current banking regulations estimated that 40 percent of the country's 8,000 community banks are at risk. State and federal regulators, however, continue to operate under an outdated system that assumes troubled banks should be shut down swiftly, at great cost to customers and communities.

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