Iowa banks receive $191 million in federal money
July 6, 2009
By MoneyAisle
The Chicago Tribune reports that nine banks in Iowa have received a combined $191 million in aid money from the federal government.
According to an executive at one of these financial institutions, requests for loans have decreased following the start of the economic recession.
West Bank chief financial officer Doug Gulling said that the U.S. Treasury’s report on the bank shows that “the bank wasn’t seeing customers spend on credit and instead they were paying down debt.”
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