Isakson, Chambliss Urge Treasury, Federal Reserve to Address Needs of Community Banks

WASHINGTON – U.S. Senators Johnny Isakson, R-Ga., and Saxby Chambliss, R-Ga., today sent a letter to Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke asking them to address the needs of community banks in Georgia and across the country.

The text of the letter is below:

Dear Chairman Bernanke & Secretary Paulson:

Given the current financial climate and its challenges, it is imperative that we address the significant needs of both large financial firms and money center banks for the protection of our investments and retirement security. We must also address the needs of our community banks that small businesses and individuals look to for everyday needs such as inventory loans, operating capital and payroll.

As you move forward implementing your new authority established by the Emergency Economic Stabilization Act, we urge you to determine how best to use your authority to provide much needed capital and access to credit to community banks in Georgia and across the country.

Saxby Chambliss           Johnny Isakson
United States Senator    United States Senator