As a community that is rural and U.S. Treasury certified Community developing lender (CDFI), Southern is completely alert to the value of CDFIs in rural areas through the entire nation. Within our paper that is recent in Rural America: Insight from the CDFI, we illustrate why CDFIs like Southern are well-equipped to deal with the situation of community banking institutions making rural communities centered on Southern’s current purchases of three banking institutions in various Arkansas areas.
During the last three years, over fifty percent of all of the banking institutions in the usa have actually closed. In rural areas, these numbers are also greater as a result of: the depopulation of rural counties; technical improvements lessening the necessity for offline facilities; not enough succession preparation; and increased and adverse laws of this Dodd-Frank Act, which harms tiny, neighborhood loan providers by imposing on it one-size-fits-all economic parameters directed at big Wall Street banking institutions. Continue reading “Banking in Rural America Insight from the CDFI Rural America Insight from”

