How Banks Lost Their Groove In Small Business Finance... And Why They May Never Get It Back

From Forbes Magazine –

“Prior to the Great Recession, easy credit conditions prevailed for small businesses. Cash was free flowing, and relaxed lending practices made it relatively easy to secure financing.

After the Lehman Brothers crash and during the ensuing “credit crunch,” volume fell roughly 19% from 2008 until 2012. This general slowdown in lending coincided with stricter requirements placed on borrowers. Financing simply became less available — even for “creditworthy” companies. For the first time in U.S. business history, small business owners frequently were unable to secure credit even from their own banks.”

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FATCA – A Case of Privacy Hypocrisy?

From The Market Mogul –

“Following the Financial Crisis of 2007-8, there has naturally been a spike in scrutiny of the banking sector. Many of the practices were condemned as traders were found to be conducting illegal practices in certain cases, there is still much debate about what measures can be taken to fully prevent any incidences of malpractice. A large chunk of the work done comes within compliance, and through the extensive work by Regulators. The added pressure of media, government and the general public has lead to a change in stance on banking and a by-product of this is a law passed by the US, titled FATCA.”

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Banks gain ground after customers’ confidence hits rock bottom

From Banking Technology –

“The global financial crisis devastated the reputation of the UK banking industry and it is not hard to understand why public trust in banks is at a low ebb. Since 2008, there have been at least five major scandals involving one or more banks operating in the UK.”

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