US Banking Industry to Withstand Turbulence
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A news article from NaplesNews.Com reports that the FDIC secures the public that the US banking industry is �in a good position to withstand turbulence.� This is in response to the issue of sub-prime mortgage crisis that is affecting the industry at present and is seen as far from over.
The sub-prime crisis raised serious supervisory concerns, prompting the FDIC and other federal bank regulators to issue guidance and statements on prudent loan underwriting, Curry pointed out.
FDIC Director Thomas Curry advises bankers to plan ahead when doing business in a slowing economy as there will going to be �significant losses� as a result of the sub-prime mortgage crisis.
For the link to the news article, click here.