Wheatworks Blog: Financial Matters

Marketwatch.com’s news article, Bank failures to surge as credit crunch slows economy, continues a pattern of news articles I’ve read lately about the consequences the banking industry is facing because of what many call loose lending behaviors.

While there have only been 3 bank failures to date in 2008, some industry projections are that at least 150 banks will fail in the U.S. in the next two to three years. In fact, the Federal Reserve currently has a special hiring program in place to increase the number of bank examiners because of the expected bank failures in our near future.

If you’ve ever wondered what a bank bank examiner does and are looking for a steady job, the Federal Reserve Bank of Chicago offers information about the job requirements. If you want to know what a bank examiner does, read the information on the Federal Reserve Bank of Chicago.