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Local Banker Weighs in on New Regulations

Posted: Friday, November 6th, 2009 at 6:25 am

The collapse in the housing market that led to the economic recession has spurred the federal government to place tight lending restrictions on financial institutions. Federation Bank President and CEO Dale Torpey says it’s made securing a loan a cumbersome process. Torpey, and officials at other local banks have told KCII that they are often more conservative in their lending practices than some larger institutions. Some have blamed the current economic climate on risky lending.