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One in Four Local Banks Has Vanished since 2008. Here’s What’s Causing the Decline and Why We Should Treat It as a National Crisis.

Date: 5 May 2015 | posted in: Banking, Retail | 0 Facebooktwitterredditmail

The precipitous decline in the number of community banks in recent years is a national crisis, and there’s a fierce debate underway right now about what’s to blame.… Read More

Federal Study Confirms “Too Big To Fail” Gives Megabanks a Hidden Funding Advantage

Date: 20 Aug 2014 | posted in: Banking | 0 Facebooktwitterredditmail

When the country’s giant banks were teetering on the verge of collapse during 2008’s financial crisis, the U.S. government stepped in to bail them out. The banks were, in a phrase that has since become infamous, “Too Big To Fail.” Would the government do it again? And does the expectation that it would step in give megabanks an unfair competitive advantage over local community banks? Those are the questions at the heart of an eagerly awaited report released at the end of July by the Government Accountability Office, a nonpartisan federal department. In a conclusion that highlights the need for more regulatory action to reduce concentration in the banking system, the G.A.O. found that the answers to both questions are “yes.”… Read More

Stacy Mitchell on Local Bites Podcast (Audio)

Date: 2 May 2014 | posted in: Banking, Retail | 0 Facebooktwitterredditmail

ILSR’s Stacy Mitchell is interviewed on the Local Bites Podcast. She lays out the evidence against the growing consolidation of economic power in the hands of a few global corporations and exposes the policy decisions that have led us down this path. She highlights several promising initiatives from the growing localization movement, and outlines the key components of a ‘localist policy agenda’. … Read More

Understanding the Small Business Credit Crunch

Date: 16 Apr 2014 | posted in: Banking, Retail | 0 Facebooktwitterredditmail

Even as their big competitors are awash in capital, many locally owned businesses are struggling to secure the financing they need to grow. This analysis finds that, since 2000, bank lending to large businesses is up 36 percent, while small business loan volume has fallen 14 percent and “micro” business loans — those under $100,000 — have plummeted 33 percent.… Read More

Change in Volume of Bank Loans to Businesses, by Loan Size, 2000-2012

Date: 15 Apr 2014 | posted in: Banking, Retail | 0 Facebooktwitterredditmail

Since 2000, the overall volume of business lending per capita at banks has grown by 26 percent, but this expansion has entirely benefited large businesses. Small business loan volume at banks is down 14 percent and micro business loan volume is down 33 percent. … Read More

Access to Capital for Local Businesses

Date: 15 Apr 2014 | posted in: Banking, Retail | 0 Facebooktwitterredditmail

A significant share of locally owned businesses are struggling to secure the financing they need to grow.  Our 2014 Independent Business Survey found that 42 percent of local businesses that needed a loan in the previous two years had been … Read More

Free Checking is Rare at Big Banks, Common at Small

Date: 27 Nov 2012 | posted in: Banking | 0 Facebooktwitterredditmail

While just 24 percent of big banks offer totally free checking, more than 60 percent of credit unions and small banks do, according to a new report from the U.S. Public Interest Research Group. The report also found that credit unions and small banks have lower fees on average and do a better job of disclosing fees to prospective customers.… Read More

Too Big to Lend

Date: 17 Oct 2012 | posted in: Banking, Retail | 6 Facebooktwitterredditmail

A critical function of our banking system is financing small businesses. But big banks are doing a rotten job of it. At the nation’s largest banks, small business lending has plunged 33% since 2009. Trying to cajole or compel them to do more won’t make much difference because the problem is largely inherent to their scale.… Read More

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