ICBA President and CEO Rebeca Romero Rainey wrote in a new blog post that the latest news from Wells Fargo reinforces that when the going gets tough, the megabanks head for the exits.
In Main Street Matters, Romero Rainey wrote that Wells Fargo's cutbacks of agricultural lenders in rural areas is part of the growing trend of megabanks withdrawing from Main Street communities.
"Unlike the megabanks, community banks are not fair-weather lenders," she wrote. "We stick with our borrowers in good times and bad because we are rooted in the communities we serve."
Read the Blog Post