The Real Deal Miami

Troubled Florida banks ask feds
July 13, 2010 02:30PM

Florida‘s top banking lobbyist sent a letter to the FDIC and the Federal
Reserve asking for a 12-month reprieve for all local banks from higher
capital requirements. “Unless we work together in giving our banks more
time to work through this oil crisis, more financial institutions will
go under,” wrote Florida Bankers Association President Alex Sanchez. “A
bank can only be as good as the community it serves.” Since 2007, only
Georgia and Illinois have seen more failed banks. Now, with the Gulf oil
spill, analysts fear more bank losses. [WSJ]