Regulators:
State's banks, credit unions in good shape Consumers
with insured accounts are safe, they say
By DANIEL KURT - GM Today Staff
October 9, 2008
WAUKESHA - While recent turmoil in the
banking industry was strong enough to take down giants like Wachovia
and Washington Mutual, Wisconsin banking regulators say local bank
and credit union customers need not worry about the safety of their
deposits.
Michael Mach, administrator of the division of banking at the
state's Department of Financial Institutions, said Wisconsin banks
have by and large stayed away from subprime lending and have bought
relatively few securities tied to risky loans.
