I regularly go to our small local bank for notary services. I spend a little time chatting with the staff. They’re telling me that bank regulators have been meeting with the administrators over the last few weeks. The discussions have not filtered down to the staff yet, but there is an increased level of tension amongst the admin people.
I wonder if this is along the same lines.
They are telling them how the government is going to stop withdrawals and runs on banks. What I have been doing is to draw down to about half my cash on a regular basis and putting it in my bank. If I get a check (paychecks included), half goes to the Simmons First National Bank & Trust (Simmons Mattress Company that is) guaranteed by S&W Security Company.
If Obama is defeated, deposits can be repatriated.
Ground intelligence is one of FR’s strengths. Get back to us when you hear more:)
Regulators come through every year or so. They are jerks. Really, I would guess there is nothing to see there. Examiners ruffle the feathers in little banks because more stuff falls on fewer shoulders. Been there done that.