Community Banking attorney Anton J Moch discussed TARP funds in the Minneapolis/St. Paul Business Journal. Per the article, “Some banks depend upon TARP funds,” a few Minnesota community banks have been using TARP funds to help during these hard economic times. TARP, or Trouble Asset Relief Program, will increase its interest rates in 2014—a strong incentive for banks to pay back funds before the rate increase. However, the economy hasn’t recovered enough for banks to repay quickly. “The rate increase will cut against the struggling community banks,” Tony said (Hammerand).
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Hammerand, Jim. “Some banks depend upon TARP funds.”