FDIC Chairman Visits North Dakota - KXNet.com - Bismarck/Minot/Williston/Dickinson-KXNEWS,ND

FDIC Chairman Visits North Dakota

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The Federal Deposit Insurance Corporation Chairman makes a stop in North Dakota today.

Senator Heidi Heitkamp introduced FDIC Chairman Martin Gruenberg to community bankers in the state.

Gruenberg heard first hand views and concerns community bankers have.

Senator Heitkamp says because of federal regulations half of North Dakota small community banks are getting out of home lending which isn't a good trend and needs to be addressed.

"A lot of them didn't do a lot of mortgage lending, but they did want to do it because they're in relationships with their customers, so for them the scale doesn't work well, which is how do we build capacity to meet compliance on these regulations when we may only do ten of them a year and is that cost beneficial for our time," Senator Heidi Heitkamp said.

Heitkamp says the chairman did a good job offering assistance to the banks to better understand the regulations.

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