Thu., July 21, 2011 4:13pm
Georgia Rep. Lynn Westmoreland wants the Federal Deposit Insurance Corp. to take a closer look at how it goes about closing banks. Westmoreland said agency regulators have flexibility in how they work with banks that might be in trouble, but they are not using it out of fear they will back a bank that still ends up failing. The north Georgia congressman said he worries the FDIC is closing community banks that could ultimately survive with some help.
