Thursday, February 11, 2010

TARP Panel: Small Banks Are Facing Loan Woes

http://finance.yahoo.com/taxes/article/108819/tarp-panel-small-banks-are-facing-loan-woes?sec=topStories&pos=8&asset=&ccode=

Wall Street banks aren't the only ones with problems that needed to be addressed.

Nearly 3,000 small U.S. banks could be forced to dramatically curtail their lending because of losses on commercial real-estate loans, a congressional inquiry concluded

"The banks that are on the front lines of small-business lending are about to get hit by a tidal wave of commercial-loan failures," said Elizabeth Warren, a law professor at Harvard University who heads the TARP oversight panel.