2 years ago
AUGUSTA (AP) -- The upheaval in national financial markets isn't stopping Maine banks from lending money. That's according to the head of the state's Bureau of Financial Institutions, which oversees banks and credit unions. Lloyd LaFountain says his office contacted several banks this week to check their liquidity levels. He says there doesn't seem to be any drying up of mortgages or auto loans. LaFountain also says the bureau hasn't heard of lending complaints from consumers. The meltdown among financial institutions on Wall Street is creating worries about the effects on Main Street. But so far, the problem doesn't seem to be affecting Maine businesses or consumers. Andrew Silsby is senior vice president and treasurer at Kennebec Savings Bank. Silsby says the bank is picking up business with mortgages as people come back to community banks.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
