News
COMMUNITY BANKS GET HELP
July 29, 2010
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| The passage of the Dodd-Frank Wall Street Protection Act, and the potential passage of legislation to create a $30B Small Business Lending Program for banks to lend to small business, could help several Illinois community banks, says Howard & Howard attorney Joe Hemker. The credit would benefit banks looking to lend to owner-occupied buildings with good credit. The Dodd-Frank has permanently raised the deposit insurance level to $250M, which will increase consumer confidence in banks, leading to more deposits and more money to lend, he says. Clients like Wintrust Financial and Harris Bank are already gearing up to start lending more today than they have in the last few years, Joe says. |
