It’s not what you want to read after the banking crisis here.
Georgia leads the nation in bank failures, but the state is leaving key bank examiner positions vacant because of a tight budget, Associated Press is reporting. There’s no sign the jobs will be filled anytime soon.
AP writes that among states with the highest number of bank failures, only Georgia has reduced oversight, according to a review by the wire service and interviews with state officials. Since Oct. 1, 2000, 40 banks in Georgia have collapsed.
“Is this a time to be having fewer bank examiners?” asked Joe Brannen, president of the Georgia Bankers Association. “I think just about everyone you ask would say no.”
Over the last two years, six Georgia bank examiner positions have become vacant and haven’t been filled, an AP review of state budget documents found. During that same period, 32 Georgia banks have gone under, according to the Federal Deposit Insurance Corp.
Also in the AJC:
In other media:
For instant updates, follow me on Twitter.