Community banks remain crucial for US economy
Despite numerous challenges facing community banks they will continue to play a key role in the financial system, notes the latest Chicago Fed Letter summarising the discussions at the annual Community Bankers Symposium.
The letter notes that community banks in virtually every region of the US face significant economic challenges in the near and medium term. However, the letter also notes that community banks' local connections and greater familiarity with local conditions give them an edge in
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