Local Revival: Building a Decentralized Economy

Date: 14 Dec 2012 | posted in: Retail | 0 Facebooktwitterredditmail

Local farms, independent retailers, and community banks are all experiencing newfound public support. While these trends are encouraging, local businesses still account for only a small share of the economy. In this 15-minute talk, given in May 2012, ILSR’s Stacy Mitchell presents a compelling case for moving local enterprises from the economy’s margins to its mainstream.… 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

Banking For the Rest of Us

Date: 1 Apr 2012 | posted in: Banking, Media Coverage | 0 Facebooktwitterredditmail

In this cover story for Sojourners Magazine, Stacy Mitchell writes that there is remarkably little evidence to support the idea that bigger banks are superior. They have come to dominate, not because they are more efficient or offer better services, but because they have rigged government policy in their own favor. It’s time for a new set of rules—banking policies for the 99 percent.… Read More

Federal Policy Threatens Local Banks, a Top Fed Official Says

Date: 25 Aug 2010 | posted in: Banking | 0 Facebooktwitterredditmail

A top Federal Reserve official says that locally owned banks do a better job of serving communities and small businesses, but they are threatened by federal policies that favor their big competitors. … Read More

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